Retail

JC Penney (JCP) reports mixed Q3 2019 earnings

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Shoppers pass a J.C. Penney store in New York.

Scott Mlyn | CNBC

J.C. Penney reported a narrower-than-expected loss for its latest quarter, sending its shares higher Friday morning.

Its stock, which closed Thursday at $1.10, surged more than 22% at one point during premarket trading. It was up nearly 11% shortly before the opening bell.

Here’s how Penney did for the quarter ended Nov. 2 compared with what analysts were expecting, based on Refinitiv data:

  • Earnings per share: a loss of 30 cents vs. a loss of 55 cents expected
  • Revenue: $2.38 billion vs. $2.51 billion expected
  • Adjusted same-store sales: down 6.6% vs. a drop of 7.7% expected

“The past quarter was an exciting and energizing time at…



Source cnbc.com

Jim Cramer’s ‘Mad Money’ recap & stock picks Nov. 15, 2019

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