Spring apparel & seasonal products help JC Penney's sales up 2.5%
04 Feb '06
3 min read
Beginning with the October period, 2004 monthly sales are being shown on a comparable basis with 2005.
While the company has not finalized earnings for the quarter, management currently expects operating profit for the fourth quarter to increase to approximately 10.3 percent of sales.
In addition, management expects reported earnings will be positively impacted by two one-time items related to income taxes.
The first item, attributable principally to certain state tax valuation allowance adjustments, is expected to benefit income from continuing operations by about $0.20 per share.
The second item, principally related to the resolution of tax issues involving the Eckerd Drugstore operation, which the company sold in 2004, is expected to benefit discontinued operations by about $0.40 per share.
Senior management will host a live conference call and real-time webcast on February 16, 2006, beginning at 9:30 am EST.
Access to the conference call is open to the press and general public in a listen only mode.
The live webcast may be accessed via JCPenney's Investor Relations page (JCPenney.net), or on StreetEvents.com (for members) and FullDisclosure.com (for media and individual investors).
Replays of the webcast will be available for up to 90 days after the event.
JC Penney Corporation Inc, the wholly owned operating subsidiary of JC Penney Company Inc, is one of America's largest department store, catalog, and e-commerce retailers, employing approximately 150,000 associates.
marketing@alchempro.com
