JCPenney FY17 comparable sales up 0.1 percent, announces 360 job cuts

J. C. Penney Company, Inc. reported comparable sales increase of 2.6 percent for the fourth quarter and 0.1 percent for full year 2017. Fourth quarter earnings per share were 0.81 dollars, while full year net loss per share was 0.37 dollars. Fourth quarter adjusted earnings per share reached 0.57 dollar and full year adjusted earnings per share were 0.22 dollar. Meanwhile, the company also announced that 130 Home Office positions were eliminated across various departments and 230 position at its group, regional, district and store support teams.