Monday, December 11, 2017
 
 
News: Page (1) of 1 - 01/26/12 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook
Penney shares soar on upbeat outlook for 2012
Penney shares soar following upbeat earnings outlook for 2012
By The Associated Press

NEW YORK (AP) ' Shares of J.C. Penney Co. are soaring 13 percent Thursday after the department store chain delivered a 2012 profit outlook that's well above analysts' projections.

It says it expects adjusted earnings per share to be at least $2.16 for the fiscal year, above analysts' $1.60 per share estimate, according to FactSet.

Penney, based in Plano, Tex., laid out an aggressive plan Wednesday to re-invent its business by simplifying its pricing and carving its stores into 100 mini shops. It says it plans to spend $800 million this year to install the shops and improve technology, using cash from its operations.



Shares are up $4.41 to $38.69.


Page: 1


 
 
 
 
 
 
 
 
 
 
 





Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines