JC Penney’s (JCP, $1.36) Fiscal Q3 Report Shows More Losses and Less Sales From Year-Ago Period
JC Penney’s third quarter results do little to brighten things up for a retailer that has been struggling with thinning margins for a while.
In the fiscal third quarter ended Nov. 3, 2018, the retail chain incurred an adjusted net loss of $164 million ($0.52 per share) – worse than the $108 million ($0.35 per share) loss of the year ago-period. Total net sales declined -5.8 % to $2.65 billion, from $2.82 billion a year ago.
Comparable sales decreased -5.4 % for the third quarter. JC Penney projects comparable store sales for the full fiscal year 2018 to be down by low-single digits.
The company expects to achieve positive free cash flow for the full year.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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a retailer of mens and womens clothing
Industry DepartmentStores
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