J.C. Penney Adds In-store Nike Shops To More Than 600 Stores, Shares Pop

J.C. Penney Co. Inc. shares surged 3.7% Tuesday, after the company announced a new partnership with sports equipment and apparel maker Nike Inc. . The troubled department store chain said it has added in-store Nike shops to more than 600 of its stores. The company has dedicated 500 square feet of space to Nike in the men's department of its stores, anchored by a a Nike swoosh sign and what it called "motivating" graphics of athletes. "Fitness enthusiasts will find everything they need to maximize their workouts including Dri-FIT base layer pants, mesh shorts, jogger pants, moisture wicking compression tees, performance socks and breathable hoodies," J.C. Penney said in a statement. Nike shares rose 1.7%, while the S&P 500 was down 0.2%.