Penny'S Three Quarter Sales Recorded A 0.8% Decline.

In the three quarter, the same store sales resumed downtrend and recorded a 0.8% decline, which surprised the market. Consensus Metrix expects that the same store sales in the three quarter will continue to grow by 2.7%.

Although less than 1% of the same store sales fell at a higher level among peers, the unexpected blow was relatively sudden given that the company was recovering actively.

According to data, the three quarter

Group same store sales fell 2.7%; sales of Nord sales fell 1.7%; and sales of 2.4% sales were increasing.

Substantially lower

In anticipation of the same store sales, Penny's share price plunged on Friday, 7:59AM at US $7.95, or nearly double digit 9.76%.

In the three quarter of October 29th, Penny Department recorded a net loss of $6700, or -0.22 US dollars per share, a net loss of 115 million US dollars over the same period last year, narrowing sharply with the earnings per share of US $-0.38, adjusted earnings per share of US $-0.21, slightly better than that of Zacks13 analysts with an average period of US $-0.22.

In the three quarter, group income recorded a US $2 billion 857 million, a decrease of 1.4% from 2 billion 897 million US dollars in the same period last year, lower than the 2 billion 940 million US dollar average of 8 Zacks analysts, which is also lower than the expected $2 billion 950 million of Thomson ReutersI/B/E/S.

Sephora, the best jewellery group of Fine, home, Salon and Fine Jewelry, as the target customers are mainly targeted at middle and low income groups, Sephora has been the best performing category in the past few quarters.

In the three quarter, the gross profit margin of Penny's Department was 37.2%, a slight decline of 10 basis points over the same period last year; EBITDA increased by 26% to 172 million dollars, adjusted by an increase of 57% to 174 million dollars; the group's operating profit during the period turned out to be 23 million dollars, a loss of 16 million US dollars in the same period last year, and the operating profit rate was 0.8%.

Penny's department store expects sales growth of 1-2% in Europe in the 2016 fiscal year, while EBITDA expects to record $1 billion, while EPS has adjusted its losses.

To the deadline, 8:29AM J.C.Penney Co.Inc. declined slightly, at $8.11, or 7.95%.