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Is JCPenney Poised to Deliver Better Fiscal 2Q17 Results?

PART:
1 2 3 4
Part 3
Is JCPenney Poised to Deliver Better Fiscal 2Q17 Results? PART 3 OF 4

Could JCPenney’s Bottom Line Improve in Fiscal 2Q17?

Earnings expectations

JCPenney (JCP) is slated to report its results for fiscal 2Q171 on August 11. Analysts expect the mid-tier department store chain to report an adjusted loss of $0.05 per share in fiscal 2Q17. The company delivered an adjusted loss of $0.05 per share in fiscal 2Q16.

Analysts also expect weakness in the earnings of JCPenney’s department store peer Kohl’s (KSS). Based on revised estimates, analysts expect Kohl’s adjusted EPS (earnings per share) to fall 3.2% to $0.18 in fiscal 2Q17.

Could JCPenney’s Bottom Line Improve in Fiscal 2Q17?

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Performance in the previous quarter

In fiscal 1Q17,2 JCPenney delivered an adjusted loss of $0.30 per share, which excluded the impact of a net gain of $117 million from the sale of operating assets. Analysts expected the company to post an adjusted loss of $0.21 per share. JCP posted an adjusted loss of $0.32 per share in fiscal 1Q16.

Including the impact of the gain on the sale of operating assets, JCP delivered adjusted EPS of $0.06 in fiscal 1Q17.

On a reported basis, the company’s loss per share deteriorated significantly to $0.58 in fiscal 1Q17 compared to a loss of $0.22 per share in fiscal 2Q16. This decline was a result of lower store sales and costs related to store closures and employee severance packages.

Full-year expectations

Analysts expect JCPenney’s (JCP) adjusted EPS in fiscal 2017 to come in at $0.49. JCPenney delivered adjusted EPS of $0.08 in fiscal 2016.

We’ll look at the performance of JCPenney stock in the final part of this series.

  1. fiscal 2Q17 ended July 29, 2017
  2. fiscal 1Q17 ended April 29, 2017
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