J.C. Penney (JCP) is expected to report improved results when it releases its quarterly numbers on Friday. Same-store sales are expected to rise 4%, according to Jharonne Martis, Director of Consumer Research for Thomson Reuters. Martis said J.C. Penney has been effective at cutting costs and has improved its merchandise selection, including adding private label brands which are resonating with consumers. On Thursday, J.C. Penney announced a new promotion that offers select items from its private brands that are available for one penny. For the quarter, analysts polled by Thomson Reuters expect earnings of $0.24 cents a share, with revenue rising by 2.3%. TheStreet's Rhonda Schaffler has details from Wall Street.