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J C Penney Company Inc (JCP)

JCP on New York Consolidated

2.96USD
14 Dec 2017
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Latest Key Developments (Source: Significant Developments)

J.C. Penney reports a 1.7 pct increase in comparable sales for Q3
Friday, 10 Nov 2017 07:30am EST 

Nov 10 (Reuters) - J.C. Penney Company Inc :J.C. Penney reports a 1.7 percent increase in comparable sales for the third quarter 2017.Q3 adjusted loss per share $0.33.Q3 loss per share $0.41.Q3 earnings per share view $-0.43 -- Thomson Reuters I/B/E/S.Q3 sales $2.81 billion versus I/B/E/S view $2.77 billion.J.C. Penney Company Inc - ‍"During Q3, we took aggressive actions to clear slow-moving inventory"​.J.C. Penney Company Inc - ‍FY 2017 adjusted earnings per share expected to be a positive $0.02 to $0.08​.J.C. Penney Company Inc sees ‍fiscal 2017 full year comparable store sales expected to be -1.0 % to 0.0 %​.FY earnings per share view $0.06 -- Thomson Reuters I/B/E/S.J.C. Penney Company - ‍Actions to clear slow-moving inventory in quarter, primarily allowing for "improved apparel assortment" heading in to holiday season​.J.C. Penney - ‍Inventory at end of Q3 2017 was $3.37 billion, a decrease of 8.8 % compared to end of Q3 last year, and down 5.7% on a comp store basis​.J.C. Penney Company Inc - ‍Home, Sephora, footwear and handbags, women's specialty and salon were company's "top performing divisions" during quarter​.J.C. Penney Company Inc - ‍Actions to clear slow-moving inventory had a negative short-term impact on profitability in Q3​.  Full Article

JCPenney to realign merchandising organization, eliminates position of chief merchant
Friday, 3 Nov 2017 04:15pm EDT 

Nov 3 (Reuters) - J C Penney Company Inc :Jcpenney announces a realignment of its merchandising organization.JCPenney Company Inc - ‍in conjunction with this reorganization, position of chief merchant has been eliminated​.JCPenney Company inc - ‍John Tighe will be leaving company to pursue other opportunities​.JCPenney Company - organizational restructuring to "streamline decision-making and promote greater agility within its merchandise buying teams​".  Full Article

Jcpenney builds on toy shops with Lego® partnership
Monday, 30 Oct 2017 08:30am EDT 

Oct 30 (Reuters) - J C Penney Company Inc ::J C Penney builds on toy shops with Lego® partnership.J C Penney Company - ‍beginning in November, JCPenney will offer Lego building bricks and playsets in 875 toy shops inside JCPenney stores.  Full Article

J C Penney provides update on Q3 2017 performance
Friday, 27 Oct 2017 06:50am EDT 

Oct 27 (Reuters) - J C Penney Company Inc :Jcpenney provides update on third quarter 2017 performance.Sees Q3 adjusted loss per share $0.40 to $0.45.‍Adjusts full-year guidance​.‍For Q3, company expects that comparable store sales will increase in range of 0.6 pct to 0.8 pct​.Sees FY 2017 adjusted earnings per share $0.02 to $0.08.‍For Q3, expects cost of goods sold, which excludes depreciation and amortization, will increase 300 to 320 basis points​.Q3 earnings per share view $-0.18 -- Thomson Reuters I/B/E/S.J c penney - ‍realize inventory liquidation favorably impacted sales for sept & oct.Co expects to deliver positive low single-digit sales comp for Sept & Oct period, excluding benefit of clearance sales​.‍During Q3, created integrated business function to have pricing, planning & allocation teams work under oversight of newly appointed CFO.‍For FY 2017, comparable store sales are now expected to be -1 pct to 0 pct​.‍For 2017, free cash flow now expected to be $200 million to $300 million​.‍In Q3, took necessary steps to accelerate inventory liquidation primarily across all apparel divisions​.Q3 earnings per share view $-0.18 -- Thomson Reuters I/B/E/S.‍Taking "comprehensive approach to assessing effectiveness of our inventory positions"​.  Full Article

J C Penney to launch smartwatches in 245 stores and JCPenney.com​
Thursday, 19 Oct 2017 08:30am EDT 

Oct 19 (Reuters) - J C Penney Company Inc :J C Penney Company Inc - ‍beginning Oct. 30, company is launching selection of smartwatches in 245 stores and JCPenney.com​.  Full Article

J C Penney Company Inc ‍launches kids brand Frank + Lulu
Tuesday, 22 Aug 2017 08:30am EDT 

Aug 22 (Reuters) - J C Penney Company Inc :J C Penney Company Inc - ‍launch of Frank + Lulu, a new brand of bedding and decor for kids​.  Full Article

Hudson's Bay names Edward Record chief financial officer
Thursday, 17 Aug 2017 05:00pm EDT 

Aug 17 (Reuters) - Hudson's Bay Co -:HBC names Edward Record chief financial officer.Hudson's Bay Co - ‍record succeeds Paul Beesley, who, as previously announced is leaving HBC​.Hudson's Bay Co - ‍ prior to JCP, Record most recently served as executive VP, COO of stage stores, and previously as its chief financial officer​.Hudson's Bay Co - ‍ Record joins HBC after more than three years as chief financial officer for J. C. Penney Company, Inc​.  Full Article

Wonya Lucas joins J.C. Penney board of directors
Thursday, 17 Aug 2017 07:55am EDT 

Aug 17 (Reuters) - J C Penney Company Inc :Wonya Lucas joins J.C. Penney board of directors.J.C. Penney Company Inc - ‍announced election of Wonya Lucas, president and chief executive officer of public broadcasting Atlanta, to its board​.  Full Article

Tiger Global Management takes share stake in J C Penney Inc
Monday, 14 Aug 2017 03:11pm EDT 

Aug 14 (Reuters) - Tiger Global Management :Tiger Global Management takes share stake of 850,000 shares in J C Penney Inc - SEC filing‍​‍​.Tiger Global Management cuts share stake in Dominos Pizza Inc by 31.0 percent to 2.0 million shares - SEC filing‍​.‍Tiger Global Management - change in holdings are as of June 30, 2017 and compared with the previous quarter ended as of March 31, 2017​.  Full Article

J C Penney appoints ‍Jeffrey Davis as chief financial officer​
Monday, 24 Jul 2017 05:00pm EDT 

July 24 (Reuters) - J C Penney Company Inc ::J C Penney elects Jeffrey Davis as chief financial officer.J C Penney Company Inc - ‍Jeffrey Davis will succeed Andrew Drexler, who has been serving as interim chief financial officer​.J C Penney Company Inc says Davis most recently served as chief financial officer at Darden Restaurants.J C Penney Company Inc - ‍Davis will report to Marvin R. Ellison, chairman and chief executive officer of J C Penney​.  Full Article

LPC: Loan borrowers warn US tax policy may hit future earnings

NEW YORK, Dec 8 Issuers of US leveraged loans, including sensors supplier MTS Systems and department store retailer JC Penney, are warning investors that a provision in the US tax reform bills may weaken their future results.