JCPenney: stock soars, as positive FCF expected in 2019

(CercleFinance.com) - The stock of department store chain JCPenney is jumping around 20% in New York today, as the group said that it expects to earn positive free cash flow (FCF) for 2019, an announcement made as the group published its Q4 results.


Over Q4, the group's adjusted net income reached 57 million dollars, or EPS of 18 cents, compared to 51 cents a year earlier, for a 9.5% decline in revenues to 3.67 billion dollars ( -4% on a comparable basis).

In addition, the group plans to close 18 full-range stores in 2019, as well as nine home improvement stores, which will result in a pre-tax charge of 15 million dollars in the first half of the year.



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