Aug. 14 (Bloomberg) -- J.C. Penney Co., the third-largest U.S. department-store chain, issued a third-quarter forecast that trailed analysts’ estimates as sales continue to decline.

Results in the current quarter may range from a loss of 5 cents a share to a profit of 5 cents, the Plano, Texas-based company said today in a Business Wire statement. Analysts had anticipated a 13-cent profit, the average of estimates compiled by Bloomberg. Sales may fall 3 percent to 5 percent, the company said.

J.C. Penney broke even in the second quarter on a per-share basis, topping than the 1-cent loss it had anticipated. The chain has weathered sales decreases this year as shoppers cut spending during the recession. It cited shoes and women’s clothing as top categories.

The second-quarter net loss of $1 million compares with profit of $117 million, or 52 cents a share, a year earlier, J.C. Penney said. Revenue for the quarter fell 7.9 percent to $3.94 billion, the company reported Aug. 6. Sales at stores open at least a year decreased 9.5 percent.

J.C. Penney fell $2.05, or 6.2 percent, to $31.29 at 4:01 p.m. in New York Stock Exchange composite trading, the biggest one-day decline since June 16. The shares have gained 59 percent this year.

To contact the reporter on this story: Lauren Coleman-Lochner in New York at llochner@bloomberg.net.

Last Updated: August 14, 2009 16:11 EDT