JCPenney Outlook Conservative
February 22, 2010,
JCPenney last week said it expects to generate earnings per share for the current fiscal year of about $1.55. That’s just off EPS of $2.57 two years ago but would represent a solid rebound from the $1.58 is posted in the recently concluded fiscal.
For the first quarter, JCPenney is looking for earnings per share from 16 cents to 20 cents as gross margin rate inclines slightly compared to last year’s 1Q. Comps are expected to be flat to slightly positive, with sales 30 basis points lower.