CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
NFL:  Dallas Cowboys vs St. Louis Rams on 105.3 The Fan | Live Updates | Pick'em To Win | Local Picks |

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

186152214 JCPenneys Q3 Loss Widens As Sales EvenJIM GAFFIGAN, "My kids have never eaten Hot Pockets

181572784 8 JCPenneys Q3 Loss Widens As Sales EvenFunny Faced Cheerleaders

 alt=Musicians Then And Now

455079896 JCPenneys Q3 Loss Widens As Sales EvenWATCH: Iggy Azalea & JLO's Booty Battle

 alt=Remembering Jimi Hendrix 44 Years Later

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 This material may not be published, broadcast, rewritten or redistributed.)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