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JCP - J.C. Penney: Gross Margins And Costs Are On Track
J.C. Penney Company Inc.
J.C. Penney (JCP) reported fairly good results in Q3 2019, as significant gross margin improvement and reduced costs helped fuel an earnings beat. J.C. Penney was also the beneficiary of low expectations, so the continued significant comparable store sales declines were already expected.
Going forward into 2020, J.C. Penney will still need to demonstrate an ability to deliver at least marginally positive comps though, as gross margin improvement and cost cutting by themselves won't quite get its EBITDA numbers to where it needs to be.