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:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Politico: House GOP Balks at Chasing Tax Cheats

Monday, 28 Jul 2014 10:21 AM

Amid the ongoing Internal Revenue Service tea party targeting scandal, House Republicans are turning their backs on Sena . . .

Paul Ryan Promotes New Safety Net Plan

Monday, 28 Jul 2014 08:46 AM

Rep. Paul Ryan is promoting the proposal he made last week to overhaul the nation's social safety net by giving states g . . .

Quinnipiac Poll: Floridians High on Legal Marijuana

Monday, 28 Jul 2014 08:17 AM

Florida could soon be the next state to allow medical marijuana, according to the results of a Quinnipiac University pol . . .

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