For the quarter ending August 4, J.C. Penney posted losses worse than expected.
The department store chain reported a loss of $0.32 per share for the fiscal second quarter, compared to the Wall Street estimate of a $0.05 loss per share. For the full year, the company now expects a loss in the range of 80 cents to $1 per share, excluding some items – a downgrade from its previous per share estimates in the range of 7 cents loss to 13 cents profit.
J.C. Penney's free cash flow was negative $235 million for the first half of the fiscal year.