Summary Box: J.C. Penney's 4Q profit rises

AP News
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Posted: Feb 25, 2011 9:26 AM
Summary Box: J.C. Penney's 4Q profit rises

THE RESULTS: J.C. Penney's fourth-quarter net income rose 36 percent to $271 million, or $1.13 per share, and its revenue rose 2.8 percent to $5.7 billion. Analysts expected earnings of $1.11 per share on revenue of $5.7 billion.

THE CONTEXT: Penney's holiday sales were boosted by further expansion of exclusive offerings, including the Liz Claiborne brand, which attracted new customers.

WHAT'S NEXT: For the coming year, earnings per share are expected to between $2 and $2.10. The outlook excludes the impact from the share repurchase. Analysts expect $1.82.