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Actionable news in JCP: J.C. PENNEY COMPANY Inc,

JC Penney earnings: 64 cents per share, vs expected EPS of 61 cents; closing up to 140 stores

J.C. Penney finally lifted the lid on its plans to downsize its fleet, telling investors on Friday that it would close between 130 and 140 of its stores over the next few months.

The retailer made its comments while reporting fiscal fourth-quarter earnings that topped Wall Street's expectations, though revenue and same-store sales fell shy of expectations.

The company's shares rose nearly 3 percent in premarket trading.

Here's how Penney's did during the quarter:

— EPS: 64 cents a share, adjusted, versus 61 cents expected, according to Thomson Reuters' consensus
— Revenue: $3.96 billion, versus an expectation of...