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.
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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