Bullish
$JCP Cut below from this past Q2 report, the guidance: I had forgotten how nicely the cost of goods was reduced, as well as expected to be reduced further. Also, SSS expected improvement, and I believe that in a big way. The Company is reaffirming its expectation of positive free cash flow1 for full year 2019. In addition, the Company has provided financial guidance for full year fiscal 2019 as follows: Comparable sales: expected to be in a range of (7.0) % to (8.0) %; Comparable sales, excluding the impact of the Company’s exit from major appliances and in-store furniture categories1: expected to be in a range of (5.0) % to (6.0) %; Cost of goods sold, as a rate of net sales: expected to decrease 150 to 200 basis points compared to last year; and Adjusted EBITDA1: expected to be in a range of $440 million to $475 million.
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