JC Penney Lowers Q4 Earnings Guidance

Thursday morning, J.C. Penney (NYSE:JCP) lowered its Q4 adjusted EPS guidance to 65c-70c, as opposed to the consensus estimate of $1.08 and the previous guidance of $1.05-1.15. This guidance does not include restructuring and management change charges, or the financial effects of alterations to J.C. Penney’s advertising approaches before the Spring 2011 season. According to J.C. Penney, those elements are expected to come to $1.00-$1.10 per share.

At the same time, the retail company, blaming weak sales in early Q4 for its guidance lowering, said that its comparable store sales for the 5 week period ending December 31, 2011 rose 0.3 percent as compared to a 3.7 percent rise in the same 2010 period. Total sales for J.C. Penney fell 2.3 percent in that five-week period last year.

The retailer reported that overall sales and customer volume in that time were weaker than hoped. But, it added, those levels rose in the week before Christmas.

Here’s how top retailers ended the day:

J. C. Penney Company, Inc. (NYSE:JCP): JCP shares recently traded at $33.91, down $1, or 2.86%. They have traded in a 52-week range of $23.44 to $41.00. Volume today was 10,270,305 shares versus a 3-month average volume of 3,949,900 shares. The company’s trailing P/E is 37.06, while trailing earnings are $0.92 per share.

Macy’s, Inc. (NYSE:M): M shares recently traded at $33.85, up $1.2, or 3.68%. They have traded in a 52-week range of $21.69 to $33.26. Volume today was 12,574,532 shares versus a 3-month average volume of 7,764,860 shares. The company’s trailing P/E is 12.41, while trailing earnings are $2.73 per share.

Kohl’s Corp. (NYSE:KSS): KSS shares recently traded at $46.53, down $0.83, or 1.75%. They have traded in a 52-week range of $42.14 to $57.39. Volume today was 8,433,588 shares versus a 3-month average volume of 4,188,740 shares. The company’s trailing P/E is 10.94, while trailing earnings are $4.26 per share.

To contact the reporter on this story: Brooke Edge at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com