J.C. Penney Co Inc JCP released its results for the second quarter on Friday.
J.C. Penney reported its quarterly profit at $14 million, or $0.07 per share, versus $14 million, or $0.06 per share, in the year-earlier period. Its revenue dropped 0.8% to $3.91 billion. However, analysts were expecting earnings of $0.10 per share on revenue of $3.94 billion.
J.C. Penney projects Q3 profit of $0.15 to $0.20 per share, including $0.05 per share in restructuring costs. However, analysts were expecting a profit of $0.27 per share.
J.C. Penney shares gained 0.15% to $26.87 in pre-market trading.
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