Company Earnings UpdateJC Penney (JCP) Fiscal 3Q18 Results: Company Misses Expectations and Withdraws Full Year Guidance Coresight Research November 16, 2018 Executive Summary JCPenney reported 3Q18 revenues of $2.65 billion, down 5.8% year over year and below the consensus estimate of $2.76 billion. Adjusted EPS was $0.52, up 48.6% from the year ago quarter, below the consensus estimate of $0.56 but above last year’s EPS of $0.35. The company’s comparable sales were down 5.4% for the third quarter. Management noted that given the recently announced CEO and interim CFO, the company will withdraw its previous 2018 full-year earnings guidance and update full-year comparable store sales guidance. FY18 comps are expected to be down low-single digits and the company continues to expect to achieve positive free cash flow for the year. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: The Next Frontier of CommerceAnalyst Corner: What Happened with US and China Consumer Sentiment on the Eve of Expected Tariffs? with John MercerWeekly US and UK Store Openings and Closures Tracker 2025, Week 9: Joann To Close an Additional 300+ Stores, Shuttering All LocationsUS Back to School 2025, Part 2: Where Consumers Will Shop—Opportunities with Higher-Income Shoppers, in Retail Media and on TikTok
