PLANO, Texas (AP) – J.C. Penney is reporting its first bump in same-store sales in more than a year and losses were not as bad as expected, sending shares up 8 percent before the opening bell.
The Plano, Texas, company had a loss of $128 million for the third quarter, or 41 cents per share. Losses, adjusted for one-time gains and costs, came to 33 cents per share, which is a dime better than Wall Street had expected, according to a poll by Zacks Investment Research.
Revenue, at $2.81 billion, also topped expectations Friday.
J.C. Penney Co. expects full-year earnings of between 2 and 8 cents per share.
