Penny's Department Expects To Rise Nearly 20% After The First Quarter.

< p > J.C. Penney Co. (NYSE:JCP) < a href= "http://www.91se91.com/news/index_c.asp" > Penny department store < /a > 15 days after the first quarter earnings report, sales rose and exceeded expected performance, after the market rose 18.28% to 9.90 U.S. dollars, on Thursday, due to Wal-Mart Stores Stores (WAL-MART) weak drag on retail stocks, shares fell 2.79% to 8.37 U.S. dollars. < /p >
In the first quarter of May 3, 2014, sales of penny department store J.C. Penney increased by 6.3%, from 2 billion 635 million US dollars in the same period last year to 2 billion 801 million US dollars. The same store sales rose 6.2%, exceeding the expected 3%-5%, a net loss of 352 million US dollars, an increase of 1.1% compared to the 348 million US dollar loss, and a loss of 1.15 US dollars per share. The adjusted loss per share was 1.16 US dollars, but the loss per share exceeded the analyst's expected loss of 1.17 dollars per share. P < /p >
< p > J.C. Penney chief executive Myron E. Ullman III is satisfied with the group's two consecutive quarters of same store sales growth, while the Group continues to improve gross margin. He said that Easter and other holidays sales were better than expected and expected to continue to the two quarter and full year. < /p >
< p > up to the first quarter of May 3, 2014, the gross profit margin of J.C. Penney Penny department store was 33.1%, which was 230 higher than that of 30.8% in the same period last year. A href= "http://www.91se91.com/news/index_c.asp" > gross profit < /a > also increased by 14%, from 812 million US dollars in the same period last year to 926 million US dollars, while operating expenses decreased by 9.6%, from 1 billion 298 million US dollars in the same period last year to 1 billion 173 million US dollars. The operating loss has narrowed sharply, narrowing from the US $486 million loss in the same period last year to 247 million dollars. < /p >
In addition, J.C. Penney Penny department also announced an increase of 500 million in financing, increasing the $1 billion 850 million Asset-based Lending asset support credit that will expire in April 2016 to US $2 billion 350 million to increase liquidity. Myron E. Ullman III commented that this also shows the bank's trust in the group, which is expected to be completed in the two quarter of P. < /p >
< p > > a href= "http://www.91se91.com/news/index_c.asp" > J.C. Penney < /a > Penny's Department expects the same quarter sales growth in the two quarter, the gross profit margin will continue to improve in the first quarter, and the sales expenses will continue to decrease. < /p >