May 17, 2018 / 11:43 AM / 2 months ago

BRIEF-Jcpenney Reports Q1 Adjusted Loss Per Share $0.22

May 17 (Reuters) - J C Penney Company Inc:

* Q1 SAME STORE SALES ROSE 0.2 PERCENT

* Q1 EARNINGS PER SHARE VIEW $-0.23 — THOMSON REUTERS I/B/E/S

* Q1 REVENUE $2.58 BILLION VERSUS I/B/E/S VIEW $2.61 BILLION

* INVENTORY AT END OF Q1 WAS $2.95 BILLION, A DECREASE OF 1.4 % COMPARED TO END OF Q1 LAST YEAR

* RETIRED $190 MILLION OF LONG-TERM DEBT AT MATURITY DURING QUARTER

* J C PENNEY - Q1 SALES COMP IMPACTED IN LARGE PART BY VERY LATE START TO SPRING WHERE CO EXPERIENCED COOLER THAN NORMAL TEMPERATURES IN APRIL

* HAS REVISED ITS 2018 FULL YEAR GUIDANCE

* FY 2018 COMPARABLE STORE SALES EXPECTED TO REMAIN AT 0.0 % TO 2.0 %

* “OVERALL TOP LINE SALES RESULTS CAME IN BELOW OUR EXPECTATIONS FOR QUARTER”

* 2018 COMPARABLE STORE SALES GROWTH EXPECTED TO REMAIN AT 0.0 % TO 2.0 %

* JEWELRY, SEPHORA, MEN’S AND SALON WERE CO’S TOP PERFORMING DIVISIONS & CATEGORIES DURING QUARTER

* FY2018 ADJUSTED EARNINGS PER SHARE NOW EXPECTED TO BE BETWEEN LOSS OF$0.07 TO EARNINGS OF $0.13

* J C PENNEY - 2018 ADJUSTED EPS NOW EXPECTED TO BE LOSS OF $0.07 TO EARNINGS OF $0.13

* COMPANY ENDED QUARTER WITH LIQUIDITY OF APPROXIMATELY $2 BILLION

* FY EARNINGS PER SHARE VIEW $0.16 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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