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

Pic: Shutterstock

Textiles | On 17th Feb 2020

Vietnam textile firms urged to source from Malaysia, India

Pham Xuan Hong, president of Ho Chi Minh City’s textile association,...

Pic: Shutterstock

Textiles | On 17th Feb 2020

Myanmar to initiate measures to improve trade strategies

Myanmar will take measures to raise overseas demand for indigenous...

Pic: PaCT

Apparel/Garments | On 17th Feb 2020

IFC portal to monitor resource usage in Bangla RMG sector

The International Finance Corporation (IFC) has developed PaCT...

Interviews View All

Ghanshyam Ghoghari, Kimora Fashion

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Claudia Kersten, Global Organic Textile Standard

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Ronald Van Den Broek,

Ronald Van Den Broek

Headquartered in Japan, Mimaki Engineering Co. Ltd. manufactures and...

Apurva Kothari,

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

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

Leave your Comments


February 2020

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


Advanced Search