J.C. Penney Co Inc on Friday reported a smaller-than-expected quarterly loss on ...
), are also looking to bring in shoppers to new stores with cafes, donut shops, fine-dining restaurants and full bars with Instagrammable views.
Excluding one-time items, J.C. Penney reported a loss of 30 cents per share, narrower than the average analyst estimate of a loss of 55 cents. The company said its net loss narrowed to $93 million, or 29 cents per share, in the quarter ended Nov. 2, from $151 million, or 48 cents per share, a year earlier.The company also said it now expects its adjusted earnings before interest, tax, depreciation and amortization for the year to exceed $475 million, compared with its prior outlook of $440 million to $475 million.Sales at stores open for more than a year fell 9.3% compared with expectations of a 7.
Reporting by Nivedita Balu in Bengaluru and Melissa Fares in New York; Editing by Maju Samuel and Nick Zieminski
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