J.C. Penney's Road to Recovery Seems on Track Following Q2 Results
J.C.Penney (JCP) lost $0.41 a share in Q2 but that was smaller than the $0.48 a share loss Wall Street had been expecting.
A road to recovery for J.C.Penney (JCP). The department store operator lost $0.41 a share in Q2 but that was smaller than the $0.48 a share loss Wall Street had been expecting. Revenue also beat forecasts. So did a 4.1 percent increase in same store sales. J.C. Penney's results got a boost from stronger sales of home goods, fine jewelry and Sephora beauty products. In an effort to attract shoppers, J.C.Penney has been increasing the number of stores within its stores run by popular beauty brand Sephora, which is owned by luxury goods maker LVMH. J.C. Penney is in the third year of a rebuilding effort after an unsuccessful attempt to move upmarket in 2013.
