J. C. Penney Co. Inc. announced late Wednesday a slew of initiatives to improve profit and growth in the next few years, saying it will focus on special-size clothing; home goods, including appliances showrooms and flooring in some markets; and expand the number of Sephora stores inside JCPenney stores and its fine jewelry selection. The retailer also signaled a larger push into e-commerce. J. C. Penney said it expects a compounded annual comparable-store sales growth of 3%, and net income between $450 million and $500 million by 2019. It also set a goal of per-share earnings between $1.40 and $1.55 within three years. “Although we’ve sharpened our priorities for the next three years, our strategic framework remains the same,” Chief Executive and Chairman Marvin E. Ellison said in a statement. “Under this framework, we are taking market share, outpacing competitors and improving the long term profitability of our business.”
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