Photo: Astrid Stawiarz/Getty Images
JCPenney’s Q4 earnings announcement is out, and the numbers are catastrophic.The company announced an adjusted loss per share of $1.95, far below expectations of a loss of $0.24 per share.
Revenues came in at $3.88 billion. Analysts were looking for $4.08 billion.
Q4 same-store sales were down 32 per cent.
JCPenney will be hosting its conference call with analysts at 5:00 PM EST.
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