J.C. Penney's Q4 Net Loss Deepens Considerably

J.C. Penney (NYSE: JCP  ) has reported its fiscal Q4 and 2012 results. For the quarter, the retailer's net sales came in at $3.9 billion, or 28% lower than the $5.4 billion it posted in the same period the previous year. Net loss deepened to $552 million ($2.51 per diluted share), from Q4 2011's shortfall of $87 million ($0.41).

Comparable-store sales, a key metric in the retail industry, fell almost 32% on a year-over-year basis.

For the full year, net sales were just under $13 billion and the net loss amounted to $985 million ($4.49 per diluted share), against 2011's sales of $17.3 billion and bottom-line shortfall of $152million ($0.70).

Comps for J.C. Penney's fiscal 2012 dropped 25% at an annual rate.


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  • Report this Comment On February 27, 2013, at 9:37 PM, revamadison wrote:

    Can someone please tell me why a company with a local store would close that store, when I is still making money, and the town is growing to the point that hundreds of new houses are planned and in the building stage. JCP was here, with a catalog store some 30 years plus,ago. They decided to build a full sized store, so forced the catalog store owner out of business. Built the store, and were making profits. About 2-3 years ago, they decided to close several nearby stores, including this one. ALL of them were making profits. They closed them anyway. Now, of course, there are no profits from those stores, that no longer exist. Big lots came in and are extremely busy. Two other big boxes came in, and have picked up sales, that JCP no longer can compete for. Those stores came in, only after JCP moved on. This type of activity just foolishly adds to a companies troubles. On top of that, they still put a flyer in the local newspapers, advertise on the TV and radio spots, etc. Usless.

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