LM Otero, Associated Press
NEW YORK — J.C. Penney is reporting a small profit in the fourth quarter, but the beleaguered retailer suffered a revenue shortfall as it struggles to win back shoppers.
The retailer, based in Plano, Texas, says that it earned $35 million, or 11 cents per share, in the three-month period ended Feb. 1. That compares with a massive loss of $552 million, or $2.51 per share, in the year-ago period.
Revenue slipped 2.6 percent to $3.78 billion.
Excluding a tax benefit and other items, Penney had a loss of $206 million, or 68 cents per share, in the quarter.
Analysts had expected a loss of 81 cents on revenue of $3.84 billion.
Revenue at stores opened at least a year was up 2 percent.
- Lawmakers looking to pump up gas tax this...
- Young adults prefer to share chores and...
- Knocking doors: What to know before signing...
- Balancing act: Organizations slowly move...
- Dave Ramsey says: Make changes to save money
- Michelle Singletary: Making personal finance...
- Are you part of the global 'baby shortage'?
- Nintendo opens 2015 with some big announcements
- Lawmakers looking to pump up gas tax... 60
- Utah has fourth largest gender wage... 12
- Are you part of the global 'baby... 12
- Obama idea to trim college savings... 6
- Greek radical left wins election,... 3
- Knocking doors: What to know before... 3
- Murray mayor pitches plan to increase... 2
- Faith leaders: your secret weapon in... 2