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Atlanta1

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Atlanta1

Re: None

Friday, 02/24/2017 9:43:28 AM

Friday, February 24, 2017 9:43:28 AM

Post# of 43522
09:42

JCP

J. C. Penney fourth quarter earnings conference call summary (6.56 -0.31)

Co said that Q4 gross margins were hurt by promotions.
Co seeing some improvement in Spring related items.
Co expects that its new lease arrangements to be accretive.
Co expects that it will continue to pay down its debt and improve its leverage ratios.
Co sees FY17 free cash flow of $300-400 mln.
Co says it will have Nike (NKE) products in all locations in Q1; says it will add Adidas (ADDYY) products to 100 stores in March.
Company says it is bullish on the state of the consumer; sees 'no red flags'
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