J. C. Penney Q4 Loss

(RTTNews) - J. C. Penney Company, Inc. (JCP) reported a net loss for the fourth quarter of $59 per share or $0.19 per share, compared to net income of $35 million or $0.11 per share for the year-ago quarter.

Excluding items, adjusted earnings for the fourth quarter was breakeven per share, compared to adjusted loss of $0.68 per share in the prior year quarter.

Net sales for the fourth quarter rose 2.9% to $3.89 billion from $3.78 billion a year earlier. Same-store sales rose 4.4% for the quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.11 per share on revenue of $3.87 billion for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts full year 2015 same-store sales to increase 3% to 5%.