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J.C. Penney shares jump on Citi upgrade

(Reuters) - J.C. Penney Co Inc shares <JCP.N> rose as much as 10 percent after Citigroup upgraded its rating to "buy" from "neutral," saying the department store's sales will continue to grow and dismissing concerns about its liquidity. Citi raised its price target on Penney's shares to $11. It also said Penney, which last year had to raise money three times in debt and equity markets, has "sufficient liquidity."

J.C. Penney expects higher sales, gross profit this year

By Phil Wahba (Reuters) - After two years of massive losses, J.C. Penney Co Inc <JCP.N> appears to be turning a corner. It reported improved sales and profit margins for the holiday season quarter, and the department store chain expects to make further strides this year.

JC Penney ekes out small profit in 4th quarter but posts revenue shortfall

NEW YORK, N.Y. - J.C. Penney's turnaround seems to be getting some legs. The department store retailer swung to a small profit in the fourth quarter from a massive loss a year ago, and reported its first quarterly gain in a key revenue figure in more than two years. The company also had positive news going forward: Penney said it expects that revenue at stores open at least a year, the key revenue measurement, will increase 3 to 5 per cent in the current quarter.

JC Penney's sales trends improve in holiday quarter, but not enough; Shares tumble to near $5

NEW YORK, N.Y. - The first increase in more than two years for a key sales measure at J.C. Penney was not enough to win over Wall Street, which punished the retailer's shares. The company's stock plunged almost 11 per cent Tuesday, closing at $5.08. Sales in established stores, a key measure of a retailer's health, rose 2 per cent during the November-January quarter. But analysts had expected a 4.2 per cent increase, according to FactSet estimates.

Scant details from JC Penney on holiday sales; shares drop

By Phil Wahba (Reuters) - J.C. Penney Co Inc <JCP.N> said in a statement Wednesday it was "pleased" with its holiday sales performance, but provided no details on those sales, sending shares of the struggling department-store chain down 8 percent in morning trading. The retailer, which is expected to report fourth-quarter results in February, is fighting to win back shoppers after a failed experiment to go up-market in 2012 and early 2013.

Martha Stewart, Macy's settle lawsuit over Penney deal

By Neha Alawadhi and Aurindom Mukherjee (Reuters) - Martha Stewart Living Omnimedia Inc <MSO.N> said on Thursday it settled a lawsuit with retailer Macy's Inc <M.N> over a home products deal with J.C. Penney Co Inc <JCP.N>. Martha Stewart did not disclose the terms of the settlement, but said the deal would not be material to the company. The company's shares rose as much as 8 percent to their year-high of $4.55 on the New York Stock Exchange.

Exclusive: Penney shrinks top name brands as own labels take center stage

By Phil Wahba PLANO, Texas (Reuters) - J.C. Penney Co Inc <JCP.N> is looking to the past to build its future. After two years of declining sales, the department store chain is eliminating or trimming some high-profile brands introduced by former Chief Executive Officer Ron Johnson, including its own jcp menswear, Joe Fresh clothes and some Martha Stewart-designed home furnishings.

J.C. Penney sees holiday quarter comparable sales improving

By Phil Wahba (Reuters) - Struggling retailer J.C. Penney Co Inc <JCP.N> on Wednesday said it was encouraged by business so far in November and forecast higher comparable store sales in the current holiday quarter. The company stuck to its forecast for more than $2 billion in liquidity at fiscal year-end, and its shares were up 7.7 percent to $9.38 in premarket trading. "The turnaround at J.C. Penney is beginning to take hold," Chief Executive Myron Ullman said on a conference call with analysts.

JC Penney sees improving sales in September from August; anticipates ample year-end liquidity

NEW YORK, N.Y. - Shares of J.C. Penney Co. got a boost Tuesday after the struggling department store chain said that a key sales barometer improved in September from August and it expects that it will have ample liquidity at year end. Penney, based in Plano, Texas, said that revenue at stores opened at least a year fell 4 per cent in September from a year ago, but that was a 5.8 percentage point improvement from August.

J.C. Penney says September same-store sales show improving trend

(Reuters) - Struggling department store operator J.C. Penney Co Inc <JCP.N> reported a smaller decline in same-store sales for September, compared to August, and said it was seeing positive signs in many areas of its business. The company, whose shares rose as much as 8 percent in premarket trade, has been struggling since a failed attempt by a former chief executive to take the chain more up-market. Sales fell 25 percent in 2012.
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