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News Breaks
November 8, 2012
12:58 EDTJCPEarnings Preview: J.C. Penney trades lower ahead of Q3 earnings report
J.C. Penney (JCP) is expected to report Q3 earnings before the market open on Friday, November 9, with a conference call scheduled for 8:00 am ET. Analysts are looking for EPS of (7c) on revenue of $3.27B. The consensus range is (20c)-12c for EPS, and revenue of $3.16B-$3.38B, according to First Call. After reporting lower than expected Q2 results, J.C. Penney said it no longer expected to meet its previous FY12 non-GAAP EPS view of $2.16. The retailer said it expected to end FY12 with in excess of $1B of cash on the balance sheet. During the quarter, Citigroup hosted a conference call with consultant Elizabeth Haynes, with her research indicating that consumers are responding to J.C. Penney's new product assortment as conversion levels have increased since July. Deutsche Bank said J.C. Penney sent a $10 off coupon in an email to customers and believes the coupon indicates the company's everyday low pricing strategy transition continues to be difficult. The firm thinks J.C. Penny could announce additional coupons and promotional events into the holiday period. Analysts and investors will listen for comments from the company on the upcoming holiday season, as well as the impact it sees from Hurricane Sandy in Q4.
News For JCP From The Last 14 Days
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January 21, 2015
12:12 EDTJCPBest Buy, home retailers seen getting biggest bump from Sears demise
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January 20, 2015
06:22 EDTJCPJ.C. Penney to bring back 120-page catalog, WSJ reports
J.C. Penney has decided to resurrect its catalog in the form of a 120-page book that will mark the first catalog the chain has sent out since 2010, The Wall Street Journal reports. The retailer, which quit the catalog amid a broader pullback caused by the recession and the rise of e-commerce, now believes the catalog can help drive web sales. Reference Link

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