Penney reports 2Q loss

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(AP Photo/Alan Diaz, File). FILE - In this Wednesday, June 7, 2017, file photo, shoppers walk into a J.C. Penney department store in Hialeah, Fla. On Friday, Aug. 11, 2017,  J.C. Penney Company, Inc. Holding Company reports earnings. (AP Photo/Alan Diaz, File). FILE - In this Wednesday, June 7, 2017, file photo, shoppers walk into a J.C. Penney department store in Hialeah, Fla. On Friday, Aug. 11, 2017, J.C. Penney Company, Inc. Holding Company reports earnings.
(John Roark/Athens Banner-Herald via AP, File). In this Friday, March 17, 2017, photo, shoppers head to a J.C. Penney store in the Georgia Square Mall in Athens, Ga. On Friday, Aug. 11, 2017,  J.C. Penney Company, Inc. Holding Company reports earnings. (John Roark/Athens Banner-Herald via AP, File). In this Friday, March 17, 2017, photo, shoppers head to a J.C. Penney store in the Georgia Square Mall in Athens, Ga. On Friday, Aug. 11, 2017, J.C. Penney Company, Inc. Holding Company reports earnings.

PLANO, Texas (AP) _ J.C. Penney Co. (JCP) on Friday reported a loss of $62 million in its fiscal second quarter.

The Plano, Texas-based company said it had a loss of 20 cents per share. Losses, adjusted for one-time gains and costs, came to 9 cents per share.

The results fell short of Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The department store operator posted revenue of $2.96 billion in the period, which beat Street forecasts. Six analysts surveyed by Zacks expected $2.87 billion.

Penney expects full-year earnings in the range of 40 cents to 65 cents per share.

The company's shares closed at $4.71. A year ago, they were trading at $9.15.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JCP at https://www.zacks.com/ap/JCP

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Keywords: J.C. Penney, Earnings Report, Priority Earnings

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