Local

JCPenney’s Q3 Loss Widens As Sales Even

View Comments

Get Breaking News First

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

From Our CBS Music Web Sites

185992939 10 JCPenneys Q3 Loss Widens As Sales EvenHot Halloween Costumes

3258814 JCPenneys Q3 Loss Widens As Sales EvenTop 10 Horror Films

 alt=Musicians Then And Now

452359772 10 JCPenneys Q3 Loss Widens As Sales EvenMissing Summer?

 alt=Celebrities And Their Dogs

cowb thumb JCPenneys Q3 Loss Widens As Sales EvenCowboys Cheerleaders

File photo of the front of a JCPenney. (credit: Getty Images)

(credit: Getty Images)

NEW YORK (AP) - JCPenney is reporting a wider third-quarter loss, but the results showed its business is starting to stabilize.

The department store chain, based in Plano, Texas, says Wednesday that it lost $489 million, or $1.94 per share, in the three months that ended Nov. 2. That compares with a loss of $123 million, or 56 cents per share, a year earlier.

Revenue fell 5.1 percent to $2.78 billion.

The company’s adjusted loss was $1.81 per share. Analysts expected a loss of $1.74 per share on revenue of $2.79 billion.

Revenue at stores open at least a year fell 4.8 percent for the quarter, but the period ended with its first monthly gain since December 2011.

Shares of JCPenney are up more than 6 percent in premarket trading.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Latest News:

Top Trending:

View Comments