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JCP - J. C. Penney Should Be Able To Easily Beat Its 2019 Adjusted EBITDA Target
J.C. Penney Company Inc.
J. C. Penney (JCP) adjusted its 2019 guidance for adjusted EBITDA to "exceed $475 million." A closer look indicates that it is likely to significantly exceed $475 million in adjusted EBITDA and potentially get close to $600 million for the year. The biggest concern remains J. C. Penney's ability to generate sales growth going forward, but J. C. Penney should perform quite well in terms of adjusted EBITDA for 2019 at least.
Current Results
J. C. Penney's adjusted EBITDA for the first three quarters of 2019 ended up at $340 million, a $38