=J. C. Penney (JCP) reported earnings on Fri 26 Feb 2016 (b/o)

J. C. Penney beats by $0.17, reports revs in-line; guides FY17 EPS above consensus :

• Reports Q4 (Jan) earnings of $0.39 per share, $0.17 better than the Capital IQ Consensus of $0.22; revenues rose 2.6% year/year to $4 bln vs the $3.99 bln Capital IQ Consensus.
  • Same Store Sales +4.1 % in Fourth Quarter; +4.5% for Full Year
• Co issues upside guidance for FY17, sees EPS of expected to be positive vs. ($0.26) Capital IQ Consensus Estimate.

OutlooK: The Company's 2016 full year guidance is as follows:

• Comparable store sales: expected to increase 3-4%
• Gross margin: expected to increase 40 to 60 basis points versus 2015
• EBITDA: expected to be $1 billion
• Adjusted earnings per share: expected to be positive
• Free cash flow: expected to improve versus 2015