For the three months ended October 29, 2016, US retailer JC Penney lowered its net loss 42 per cent over a fiscal ago quarter to $67 million or $0.22 loss per share. Adjusted earnings per share also fell by 54 per cent to $0.21 loss per share for the third quarter of fiscal 2016, as against $0.46 loss per share in the prior fiscal's same quarter.
Comparable sales were down 0.8 per cent in the reporting quarter, offering a two-fiscal stack of 5.6 per cent.For the three months ended October 29, 2016, US retailer JC Penney lowered its net loss 42 per cent over a fiscal ago quarter to $67 million or $0.22 loss per share. Adjusted earnings per share also fell by 54 per cent to $0.21 loss per share for the third quarter of fiscal 2016, as against $0.46 loss per share in the prior fiscal's same quarter.#
For the quarter under review, gross margin stood at 37.2 per cent of sales, a decline of 10 basis points compared to the same period in the previous fiscal.
EBITDA expanded to $36 million to $172 million for the third quarter of fiscal 2016, up 26 per cent over the earlier fiscal's third quarter, while adjusted EBITDA surged 57 per cent year over year to $174 million. (AR)
Fibre2Fashion News Desk – India
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