J. C. Penney Posts Narrower Loss In Q2; Same Store Sales Up 4.1 % - Quick Facts

(RTTNews) - J. C. Penney Company, Inc. (JCP) reported a second quarter net loss of $138 million or $0.45 per share, compared to a loss of $172 million or $0.56 per share, prior year. Adjusted loss per share was $0.41, for the quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.48 for the quarter. Analysts' estimates typically exclude special items.

EBITDA was $115 million compared to $90 million. On an adjusted basis, EBITDA improved to $134 million from $39 million, previous year.

Net sales were $2.88 billion compared to $2.80 billion in the second quarter of 2014. Same store sales increased 4.1% for the period. Analysts expected revenue of $2.86 billion for the quarter.

The company now expects its 2015 EBITDA of approximately $620 million compared to the previous expectation of $600 million. Comparable store sales are expected to increase 4 percent to 5 percent.