J. C. Penney Company, Inc. (NYSE:JCP) 1Q18 Earnings Miss Street View

J. C. Penney Company, Inc. (NYSE:JCP) revealed net loss for the first quarter of $ 78 million or 25 cents per share, compared to loss of $ 187 million or 60 cents per share, in the year-ago period.

On adjusted basis, JCP reported loss of $ 69 million or 22 cents per share.

Headquartered in Plano, Texas, the company disclosed, total revenue that reached $ 2.67 billion, decreased 4% from $ 2.78 billion a year ago.

The consensus estimates from Thomson Reuters are loss of $ 0.2 per share from $ 2.68 billion in revenue.

Marvin R. Ellison, chairman and CEO said: During the first quarter, we achieved a positive sales comp of 0.2 %, which was impacted in large part by a very late start to Spring where we experienced cooler than normal temperatures in April.

Looking ahead, J. C. Penney Company, Inc. anticipates full year 2018 diluted earnings of ($0.07) to $0.13 per share, while comparable store sales expected to remain at 0.0 % to 2.0 %.

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