Summary Box: J.C. Penney's 2Q profits flat

AP News
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Posted: Aug 12, 2011 12:51 PM
Summary Box: J.C. Penney's 2Q profits flat

PROFITS: J.C. Penney reported net income of $14 million, or 7 cents per share, for the three months ended July 30.

REVENUE: Revenue fell to $3.91 billion from $3.94 billion in the year-ago period.

THE OUTLOOK: The company expects earnings per share to be in the range of 15 cents to 20 cents for the third quarter. Analysts had expected 27 cents per share.