J. C. Penney Company, Inc. (JCP - Analyst Report), a department stores retailer, reported loss of 47 cents in third quarter of fiscal 2015, which was narrower than the Zacks Consensus Estimate of a loss of 58 cents per share.
In the trailing four quarters (excluding the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 11.7%.
Revenues: J. C. Penney generated total revenue of $2,897 million that increased 4.8% year over year, and also came ahead of the Zacks Consensus Estimate of $2,864 million.
Outlook: Management expects comparable store sales to increase in the range of 4% to 5% in 2015, whereas gross margin is expected to increase between 100 to 150 basis points. Adjusted EBITDA is expected to be $645 million.
Zacks Rank: Currently, J. C. Penney carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: J. C. Penney shares are down nearly 4.4% during pre-market trading hours following the earnings release.
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