NEW YORK — J.C. Penney Co. is hoping it has hit rock bottom.

The bad news keeps getting worse for the struggling department-store chain that on Friday reported a wider third-quarter loss than Wall Street expected on a nearly 27 percent drop in revenue. That marks the third consecutive quarter of big losses and sales declines as customers continue to show that they’re unhappy with Penney’s decision this year to ditch hundreds of coupons and annual sales in favor of everyday low pricing.

The poor results underscore the challenges facing Penney’s CEO Ron Johnson, the former Apple executive who was brought in a year ago to turnaround the retailer. Since then Johnson, who masterminded Apple’s popular retail stores, has been working to change everything at Penney, from its stores to its merchandise.

Penney, however, is starting to see some positive results from the makeover it began of 700 of its 1,100 stores with sectioned-off shops inside each that feature different brands such as Levi’s and Penney’s new JCP line of casual clothes.