The company announced an adjusted loss per share of $1.95, way below expectations of a much smaller loss of $0.24 per share.
Revenues came in at $3.88 billion. Analysts were looking for $4.08 billion.
Same-store sales were down 31 percent.
IMO shares shoul dbe down a lot more in AH.
Read more: http://www.businessinsider.com/jc-penney-q4-2012-earnings-2013-2#ixzz2M8bYJWnX
I thought the same thing. Only down about .80 or so.. Makes no sense.
Hold on, it's still dropping and will more tonight and early tomorrow morning. I may buy some at $16-$17 dollars or less if the drop keeps its pace.
Not good for Ackmans stake in JCP. Any thoughts about his fund losing enough money that he will be required to add cash or cover some HLF to settle possible margin calls?