JCPenney Earnings Drop Dramatically

Posted Nov 13th 2009 at 2:10PM by Bee-Shyuan Chang (Subscribe to Bee-Shyuan Chang's posts)

JCPenney reports a 80% drop in earnings. Photo: Spencer Platt, Getty Images

JCPenney had a tough third quarter.

The Texas-based retailer reported to investors today a 80% drop in earnings per share compared to the same quarter last year.

While the news seems grim, the numbers actually pleasantly surprised investors -- JCPenney was expecting its third-quarter to be worse than reported.

But the department store should see an uplifting holiday season with its "Joy of Giving" campaign, involving the launch of a new Facebook page. Become a fan of the page and enter to win the shopping trip of a lifetime.

Plus, with a stylish Olsen twins collaboration in the pipeline, we're betting shopping teens will give JCPenney just the lift it needs.

Tags: department store, DepartmentStore, Facebook, Facebook Page, FacebookPage, holiday campaign, HolidayCampaign, JCPenney, Retail Sales, RetailSales

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