14 Aug J.C. Penney’s Stock Climbs On Improved Sales & Narrowed Losses in Q2
Yet another department store has bucked the d-store lull. Today, J.C. Penney Co. Inc. pulled off a better-than-expected Q2 finish, with gains in comparable-store sales and revenues.
The Plano, Texas-based chain’s shares are surging in midday training — up more than 8 percent at press time — after the firm narrowed its net losses by 20 percent and improved its comps more than 4 percent in the quarter, which ended Aug. 1, 2015.
J.C. Penney CEO Marvin Ellison said that while he’s pleased with the firm’s improved performance, there’s still significant work to be done.
During the company’s Q2 conference call, Ellison also acknowledged that J.C. Penney is “admittedly behind the retail industry” when it comes to omnichannel…