J.C. Penney's Q4 Net Loss Deepens Considerably
J.C. Penney has reported its fiscal Q4 and 2012 results. For the quarter, the retailer's net sales came in at $3.9 billion, or 28% lower than the $5.4 billion it posted in the same period the previous year. Net loss deepened to $552 million ($2.51 per diluted share), from Q4 2011's shortfall of $87 million ($0.41).
Comparable-store sales, a key metric in the retail industry, fell almost 32% on a year-over-year basis.
For the full year, net sales were just under $13 billion and the net loss amounted to $985 million ($4.49 per diluted share), against 2011's sales of $17.3 billion and bottom-line shortfall of $152million ($0.70).
Comps for J.C. Penney's fiscal 2012 dropped 25% at an annual rate.
The article J.C. Penney's Q4 Net Loss Deepens Considerably originally appeared on Fool.com.Fool contributor Eric Volkman has no position in J.C. Penney, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.