JC Penney shares slide after disappointing results for holiday shopping season quarter

Shares in J.C. Penney Co. are tumbling in aftermarket trading after the department store chain posted disappointing results for its key holiday-shopping-season quarter.

The company reported a loss of $59 million, or 19 cents per share, in the three-month period that ended Jan. 31.

But excluding one-time items, it said it broke even for the quarter. Analysts had expected a profit of 12 cents for the period on that basis, according to FactSet.

Revenue rose 2.9 percent to $3.89 billion, edging analysts' estimate of $3.87 billion.

Sales in stores open at least a year rose 4.4 percent for all of 2014. The company expects that metric, a key one for retail, to rise 3 to 5 percent in 2015.

Penney's shares slid almost 10 percent in aftermarket trading.