Tags: JC | Penney | Profit | Forecast

J.C. Penney Declines After Profit Forecast Misses Estimates

Thursday, 05 Jan 2012 09:34 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

J.C. Penney Co. fell in early trading after providing a fourth-quarter profit forecast that fall short of analysts’ estimates.

The stock dropped 5.8 percent to $32.90 at 8:55 a.m. before regular New York trading. The shares had risen 8 percent in the past year before today.

New Chief Executive Officer Ron Johnson, who took over in November after running Apple Inc.’s retail operations, is reviewing products, pricing and promotional strategies to help revive sales.

J.C. Penney, the third largest department store chain, said in a statement today that fourth-quarter profit would come to 65 cents to 70 cents a share. It had projected profit of as much as $1.15. Analysts estimated $1.08 on average.

December sales and traffic were “softer” than it had anticipated, the Plano, Texas-based department store chain said.


© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Poll: Majority Prefer Troops Protect Border Than Fight Ebola

Friday, 19 Sep 2014 13:55 PM

A majority of Americans, or 55 percent, think the U.S. military is overstretched but believe deploying troops to stop il . . .

Big Labor Millionaires Lead 'Income Equality' Convention

Friday, 19 Sep 2014 11:11 AM

Several of America's wealthiest union bosses spoke at the 2014 Ohio AFL-CIO convention in Cincinnati this week. The even . . .

Pew Poll: Liberals Choose Tolerance Over Faith

Friday, 19 Sep 2014 10:27 AM

Liberals are more likely to teach their children values about tolerance compared to conservatives, who prioritize religi . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved