J.C. Penney Narrows First Quarter Loss, Raises 2015 Sales Forecast

Keep an eye on shares of J.C. Penney (JCP) in Thursday's trading session, after the retailer reported its first quarter earnings results. The company posted a narrower than expected first quarter loss of 57 cents per share. Sales of $2.86 billion matched the consensus estimate. J.C. Penney reported same-store sales, a key metric in the retail sector, rose by 3.4% for the quarter. The retailer also increased its full year margin and same store sales outlook. It now forecasts sales at stores open more than a year to rise between 4% to 5%. The stock is gaining in after-hours trading Thursday, following the earnings release. TheStreet's Kurumi Fukushima reports in New York.