NEW YORK — J.C. Penney Co. dumped more bad news on investors Thursday, estimating that sales for the current year at established stores would be down more than Wall Street expected.

The disappointing sales outlook came as the struggling department store chain delivered fourth-quarter profits that beat estimates.

Shares of Penney fell on the disappointing outlook along with the broader markets.

J.C. Penney is still trying claw its way back after a disastrous reinvention plan in 2012 implemented by former CEO Ron Johnson. Its sales went into a free fall, and many longtime customers walked away and have not returned.