Home / Knowledge / News / Apparel/Garments / Apparel retailer JC Penney cuts Q2FY17 losses steeply
Apparel retailer JC Penney cuts Q2FY17 losses steeply
13
Aug '16
For its second fiscal quarter ended July 30, 2016, apparel retailer JC Penney reduced its net loss by a steep 52 per cent year over year to $56 million or $0.18 loss per share.

Excluding the previously announced write-off of unamortised debt issuance costs of $34 million, adjusted earnings per share improved 88 per cent over the earlier fiscal's same quarter to a loss of $0.05 per share.

The retailer said its comparable sales increased 2.2 per cent from a fiscal ago quarter for the reporting period, delivering a two-year stack of 6.3 per cent.

For the second quarter of fiscal 2017, gross margin was 37.1 per cent of sales, a 10 basis point improvement compared to the same period last fiscal.

EBITDA improved $85 million from the comparable quarter of fiscal 2016 to $229 million in the quarter under review, an expansion of 59 per cent.

Excluding restructuring charges and the proportional share of net income from the home office land joint venture, adjusted EBITDA improved 69 per cent year on year to $233 million. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search