Home / Knowledge / News / Apparel/Garments / Adjusted EBITDA soars sky high in FY15 at JC Penny
Adjusted EBITDA soars sky high in FY15 at JC Penny
29
Feb '16
Courtesy: JC Penny
Courtesy: JC Penny
JC Penny, an apparel and home furnishing retailer based in the US, reported a rise of 155 per cent in its net earnings before interest, taxes, depreciation and amortisation (EBITDA) to $715 million in fiscal 2015, ending on January 30, 2016, as compared to $280 million in the prior fiscal, according to a press statement released by the retailer.

The diluted EPS reported by JC Penny for this fiscal was $1.68, a fall of 28.5 per cent, as compared to $2.35 in fiscal 2014, ending on January 31, 2015.

Gross margin for FY15 was 36 per cent, a rise of 3.44 per cent as compared to 34.8 per cent in the prior fiscal.

Net income was reported to be $513 million, a fall of 28.5 per cent, as compared to $717 million in FY14. Net sales stood at $12,625 million in the year ending on January 30, 2016 as compared to $12,257 million in the prior fiscal, a rise of 3 per cent.

Commenting on the results, Marvin Ellison, chief executive officer of JC Penny said, “Our focus on private brands, omni-channel and revenue per customer is clearly resonating as we continue to win market share in a competitive environment.”

“While significant work remains to regain our status as a world-class retailer, the company’s financial performance this year indicates we are on the right path to achieving our long-term financial objectives,” he added.

In its outlook for fiscal 2016, the retailer expects its EBITDA to be $1 billion and its adjusted EPS to be positive. (MCJ)

Fibre2Fashion News Desk – India


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search