JCPenney expects its three-year growth strategy to boost profit

J. C. Penney Company has announced a three-year growth plan and its financial expectations for improved performance beyond 2017. In light of these sales and profit enhancing initiatives, the company expects compounded annual comparable sales growth to be 3 percent; gross margin improvement of 75-100 basis points; net income between 450-500 million dollars and earnings per share of 1.40 dollars to 1.55 dollars by 2019.