J.C. Penney March Comp Sales Come in Stronger Than Expected

J.C. Penney(JCP Quote) said same-store sales in its department stores and drugstores rose in March, and the company indicated that it expects to beat the consensus earnings projections for the first quarter.

The company's same department store sales for March rose 2.7% from the year-ago period. Wall Street was expecting a 1% gain. Total department store sales for the month increased 1.3% to $1.21 billion, from just above $1.19 billion in the same period last year. ...