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 just beat analysts' expectations of $2.79 billion. J.C. Penney also reported comparable-store sales growth of 6%, which edged the consensus estimate of 5.9%.
The stock was up 1.33% to $9.87 at 9:46 a.m. More than 17.7 million shares had changed hands to beat the average volume of 16,470,400.
EXCLUSIVE 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts