The company reported a loss of 75 cents a share, narrower than the consensus estimate of 93 cents a share. Revenue of $2.8 billion edged analysts' expectations of $2.79 billion. The company also reported comparable-store sales growth of 6%, which narrowly surpassed the consensus estimate of 5.9%.
The stock was up 10.68% to $10.78 at 4:09 p.m.
Must Read: Warren Buffett’s 25 Favorite StocksEXCLUSIVE OFFER: See inside Jim Cramer’s multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE. Separately, TheStreet Ratings team rates PENNEY (J C) CO as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: "We rate PENNEY (J C) CO (JCP) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and deteriorating net income." You can view the full analysis from the report here: JCP Ratings Report JCP data by YCharts
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