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J.C. Penney posts disappointing fiscal 1Q as earnings, revenue miss estimates; stock plunges

Proactive Investors Tuesday, 21 May 2019
Shares of J.C. Penney Co Inc (NYSE:JCP) got hammered Tuesday after posting fiscal first-quarter earnings that missed analysts’ expectations. The struggling department store chain’s stock recently fell 11.3% to $1.02 a share. J.C. Penney on Tuesday reported a loss of $0.48 per share, versus analysts’ forecasts of a loss of $0.38 per share. Its net loss nearly doubled to $154 million, compared with the previous-year quarter. It also missed on revenue for the period that ended May 4. Revenue came in at $2.44 billion, missing expectations of $2.47 billion. The company, based in Plano, Texas, also reported a steep decline in comparable-store sales, which fell 5.5%. Contact the author: [email protected] Follow him on Twitter @PatrickMGraham
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News video: Kohl's Stock Plunges

Kohl's Stock Plunges 00:32

On Tuesday, Kohl's reported first-quarter results that missed across the board. According to Business Insider, the retailer also cut its full-year adjusted-earnings-per-share guidance. Shares were down more than 10%. The retailer earned an adjusted $0.61 a share on revenue of $3.82 billion.

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