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BRIEF-J C Penney reports Q4 adjusted earnings of $0.64/shr
February 24, 2017 / 12:19 PM / 9 months ago

BRIEF-J C Penney reports Q4 adjusted earnings of $0.64/shr

Feb 24 (Reuters) - J C Penney Company Inc

* J C Penney reports positive net income for fiscal 2016; a $514 million increase compared to the prior year

* Q4 adjusted earnings per share $0.64

* Qtrly earnings per share $0.61

* Q4 earnings per share view $0.61 -- Thomson Reuters I/B/E/S

* Q4 sales $4.0 billion versus I/B/E/S view $3.98 billion

* Q4 total net sales $3,961 million versus $3,996 million last year

* J C Penney Company Inc - comparable store sales were down 0.7 percent for Q4

* J C Penney Company Inc - Comparable store sales for FY expected to be down 1 percent to up 1 percent

* J C Penney Company Inc - 2017 adjusted earnings per share expected to be $0.40 to $0.65

* J C Penney Company Inc - for Q4, gross margin was 33.1 percent of sales, a 100 basis point decline compared to same period last year

* FY earnings per share view $0.56 -- Thomson Reuters I/B/E/S

* J C Penney Company Inc - Inventory at year-end was $2.85 billion, an increase of 4.9 percent compared to last year-end

* J C Penney Company Inc - 2017 full year gross margin expected to be up 20 to 40 basis points versus 2016

* J C Penney Company Inc - Company’s 2017 full year guidance includes expected impact of store closures Source text for Eikon: Further company coverage:

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