Keep an eye on shares of J.C. Penney (JCP) in Thursday’s trading session, after the retailer reported its first quarter earnings results. The company posted a narrower than expected first quarter loss of 57 cents per share. Sales of $2.86 billion matched the consensus estimate. J.C. Penney reported same-store sales, a key metric in the retail sector, rose by 3.4% for the quarter. The retailer also increased its full year margin and same store sales outlook. It now forecasts sales at stores open more than a year to rise between 4% to 5%. The stock is gaining in after-hours trading Thursday, following the earnings release. TheStreet’s Kurumi Fukushima reports in New York.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
