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J C Penney Company Inc Surges After Earnings Beat

J C Penney released its latest earnings report before opening bell this morning, posting results that beat estimates and sending shares upward. The stock climbed as much as 5.45% to $8.51 per share in afternoon trading today.

J C Penney beats competitors

J C Penney management have been attempting to reverse the tumbling sales and execute a turnaround. This morning's earnings report is a sign of solid progress, as the department store chain posted results that were actually better than those of Macy's and other competitors, reports USA Today.

J C Penney posted net revenue of $2.88 billion, an increase from last year's $2.8 billion in net sales. The retail chain beat the consensus estimate of $2.86 billion in sales. The company...