Quarterly ResultSep 18, 2026, 04:18 PM
Copper Property CTL Releases Penney Holdings Q2 Financials
AI Summary
Copper Property CTL Pass Through Trust announced the release of Q2-2026 consolidated financial statements for Penney Intermediate Holdings LLC. The results show a decrease in net sales and operating income for the quarter compared to the previous year. Net sales for Q2-2026 were $1.301 billion, down from $1.417 billion in Q2-2025, with net income falling to $54 million from $110 million. The six-month period also showed a decline, with a net loss of $11 million compared to a net income of $41 million in the prior year. The company also provided store performance disclosures, indicating mixed results across different rent and sales tiers.
Key Highlights
- Penney Intermediate Holdings LLC reported Q2-2026 net sales of $1.301B, down from $1.417B in Q2-2025.
- Q2-2026 operating income was $57M, a decrease from $126M in Q2-2025.
- Net income for Q2-2026 was $54M, compared to $110M in Q2-2025.
- For the six months ended August 1, 2026, net sales were $2.550B, down from $2.726B in the prior year period.
- Six-month period ended August 1, 2026, resulted in a net loss of $11M, compared to a net income of $41M in the prior year period.
- Total assets for Penney Intermediate Holdings LLC were $4.923B as of August 1, 2026, down from $5.260B as of August 2, 2025.
- Total liabilities decreased to $2.849B as of August 1, 2026, from $3.637B as of August 2, 2025.
- Member's equity increased to $2.074B as of August 1, 2026, from $1.623B as of August 2, 2025.
Price Impact
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