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J.C. Penny's Third Quarter Wasn't As Bad As It Could Have Been


J.C. Penny reported a lost of $1.81 per share for the third quarter, which isn't so bad compared to the expected $1.74 loss wall analysts were expecting for the embattled retailer, if you include the $0.73 loss per share on tax valuation allowance. Their revenues were $2.78 billion, just missing expectations for $2.80 billion. Regardless of the loss for the quarter the company is still optimistic and believes same store sales trends will improve in the fourth quarter. Shares are currently up 7.7%.