2017 QUARTERLY FINANCIALS

($ in millions, except adjusted EPS) Q1 Q2 Q3 Q4 FY2017
Enterprise Sales
Comp %
$2,706
(3.5%)
$2,962
(1.3%)
$2,807
1.7%


Cost of Goods Sold
% of Sales
$1,723
63.7%
$1,923
64.9%
$1,852
66.0%


SG&A
% of Sales
$843
31.2%
$842
28.4%
$840
29.9%


Adjusted EPS*
% Increase to 2016
$0.06
119%
($0.09)
(80%)
($0.33)
(57%)


*A reconciliation of GAAP to non-GAAP financial measures is available on our investor relations site at ir.jcpenney.com

2016 QUARTERLY FINANCIALS

($ in millions, except adjusted EPS) Q1 Q2 Q3 Q4 FY2016
Enterprise Sales
Comp %
$2,811
(0.4%)
$2,918
2.2%
$2,857
(0.8%)
$3,961
(0.7%)
$12,547
0.0%
Cost of Goods Sold
% of Sales
$1,793
63.8%
$1,834
62.9%
$1,795
62.8%
$2,649
66.9%
$8,071
64.3%
SG&A
% of Sales
$872
31.0%
$853
29.2%
$888
31.1%
$925
23.4%
$3,538
28.2%
Adjusted EPS*
% Increase to 2015
($0.32)
44%
($0.05)
88%
($0.21)
54%
$0.64
64%
$0.08
108%

*A reconciliation of GAAP to non-GAAP financial measures is available on our investor relations site at ir.jcpenney.com


 

FY2017 GUIDANCE*

Comparable Store Sales Expected to be down 1% to 0%
Cost of Goods Sold Expected to be up 100 to 120 bps vs. 2016
SG&A $ Expected to be down 1% to 2% vs. 2016
Adjusted EPS (non-GAAP)** Expected to be $0.02 to $0.08
Free Cash Flow (non-GAAP)** Expected to be $200 to $300 million

*As of 10/27/2017; Fiscal 2017 is a 53-week year and is incorporated in the guidance while comparable store sales are on a 52-week basis.

**A reconciliation of non-GAAP forward-looking projections to GAAP financial measures is not available as the nature or amount of potential adjustments, which may be significant, cannot be determined at this time.