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J. C. Penney Boosts 4Q Revenue on 'Successful' Holiday Season
Feb 29, 2016 9:27 AM
By Rapaport News
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RAPAPORT... J. C. Penney’s revenue rose 2.6 per cent to $4 billion in
the three months to January 30, the retailer reported.
Comparable store sales
advanced 4.1 percent year on year in the fourth fiscal quarter that included a
“successful” holiday season.
However, the company’s GAAP
loss widened to $131 million from $35 million a year earlier and loss per share
deepened to $0.43 from $0.11, according to a statement February 26. On a
non-GAAP basis, profit soared from $13 million to $121 million, while adjusted
earnings per diluted share increased from $0.04 to $0.39.
Revenue in the full fiscal
year advanced 3 percent to $12.63 billion.
“Our focus on private
brands, omnichannel and revenue per customer is clearly resonating as we
continue to win market share in a competitive environment,” said Marvin
Ellison, J. C. Penney’s chief executive officer.
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Tags:
holiday sales, J. C. Penney, jcpenney, Rapaport News, results, retail, retailers, u.s.
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