J.C. Penney Company, Inc. Earnings: Mixed Signs in the Second Quarter

J.C. Penney (NYSE: JCP) stock has plunged in 2017, as investors have started to become more skeptical about the company's turnaround prospects. While J.C. Penney expects to produce positive adjusted earnings per share of $0.40 to $0.65 this year, much of that profit will come from real estate gains. Meanwhile, comparable-store sales fell 3.5% in the first quarter, making the goal of consistent comp sales growth seem as far-fetched as ever.

J.C. Penney started to get back on track in the second quarter. While comp sales continued to decline, the trend improved significantly relative to the first quarter. Management also indicated that sales are off to a strong start in August.

J.C. Penney's sales trend started to improve last quarter. Image source: J.C. Penney.

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Source: Fool.com