CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
NFL Preseason: Dallas Cowboys vs Miami Dolphins on CBS 11 & 105.3 The Fan at 6:00pm | Cowboys News

Local

JCPenney Reports $87 Million Q4 Loss

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

494849761 10 JCPenney Reports $87 Million Q4 LossCelebrating National Underwear Day

465887719 JCPenney Reports $87 Million Q4 LossFacebook Users – Beware The App!

 alt=JLo Shows Off Her Best Assets In New Cover

904255 10 JCPenney Reports $87 Million Q4 LossRemembering Robin Williams

 alt=Musicians Then And Now

Fantasy_tile

VOTE: Best Coaches In American Sports

NEW YORK (AP) - JCPenney Co. says it lost $87 million in the fourth-quarter, citing restructuring and management transition charges as well as the financial impact related to its new pricing strategy.

The department store chain said Friday that its loss amounted to 41 cents per share for the three-month period ended Jan. 28. That compares with net income of $271 million, or $1.13 per share in the year-ago period.

The results include restructuring and management charges that totaled 56 cents per share. The impact of its pricing strategy, which debuted Feb. 1, lowered results by an additional 59 cents.

Revenue slipped 5 percent to $5.42 billion. Analysts expected $5.5 billion.

Under the stewardship of new CEO Ron Johnson, Penney is scaling back non-stop promotions in favor of every day pricing.

Its shares slipped 4 cents to $41.89 in premarket trading.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Also Check Out:

Follow

Get every new post delivered to your Inbox.

Join 42,319 other followers