J.C. Penney Shares Jump on 2Q Results

Reuters

Department store operator J.C. Penney Co Inc reported a 2.7 percent rise in quarterly revenue, helped by higher sales in its home and fine jewelry categories and at the Sephora departments in its stores.

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The company's net loss narrowed to $138 million, or 45 cents per share, in the second quarter ended Aug. 1, from $172 million, or 56 cents per share, a year earlier.

J.C. Penney's revenue rose to $2.88 billion from $2.80 billion. (Reporting by Subrat Patnaik in Bengaluru; Editing by Maju Samuel)