PLANO, Texas /March 2, 2018 (AP)(STL.News) — Surprisingly strong earnings during J.C. Penney Co. are being overshadowed by revenue and comparable-store sales that came in a little light during the critical holiday season.
Shares fell about 10 percent before the opening bell Friday.
The retailer posted fourth-quarter earnings of $254 million, or 81 cents per share. Per-share earnings, adjusted for one-time gains and costs, were 57 cents, which is 12 cents better than Wall Street had expected, according to Zacks Investment Research.
Revenue from the Plano, Texas, company was $4.03 billion, in line with expectations.
J.C. Penney Co. expects full-year earnings in the range of 5 to 25 cents per share.