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Q4 comps a disaster at JCP
Fouth quarter same store sales fell by a jaw-dropping 31.7% at J.C. Penney, but CEO Ron Johnson insisted the company continues to make great strides with its one year old transformation strategy.
The company report an adjusted net loss for the quarter of $427 million, or $1.95 a share and a full year adjusted net loss of $766 million or $3.49 a share.
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Target Q4 slips but tops Street; will open 124 stores in Canada by yearend
Minneapolis -- Target Corp. reported Wednesday a profit of $961 million for the fourth quarter, down from $981 million in the year-ago period. The profit slip reflected expenses related to its Canadian market entry along with a spending slowdown during the holiday sales period. It was Target's weakest holiday season performance since 2008. But its adjusted results beat analysts' estimates and it forecast first-quarter earnings above Wall Street's view.