JC Penney outlook spooks Wall Street

In this Wednesday, May 16, 2018, photo, the JC Penney logo is seen hanging outside the Manhattan mall in New York. J.C. Penney Co. reports earnings o

In this May 16, 2018, photo, a man enters the JC Penney store at the Manhattan mall in New York. J.C. Penney Co. reports earnings on Thursday, May 17

In this Wednesday, May 16, 2018, photo, traffic makes it's past the JC Penney logo hanging outside the Manhattan mall in New York. (AP Photo/Mary Alta

PLANO, Texas (AP) — J.C. Penney is reporting a first-quarter loss along the lines of what analysts had expected, but also strong revenue.

The company's outlook for the year is short of most projections, however. Shares slid 5 percent early Thursday.

The loss was $78 million, or 25 cents per share. The loss, adjusted for one-time items, was 22 cents per share.

The Plano, Texas, department store posted revenue of $2.67 billion, beating projections of $2.6 billion, according to a survey by Zacks Investment Research.

J.C. Penney Co. expects full-year results to range from a loss of 7 cents per share to earnings of 13 cents per share.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JCP at https://www.zacks.com/ap/JCP