JCPenney Sales Up,Not Turning Profit

By CNN

Published 05/16 2014 12:05PM

Updated 05/16 2014 12:07PM

Things are looking up for struggling retailer JCPenney.

The company reported same-store sales were up more than six percent in the first quarter; exceeding its own expectations.

JCPenney said sales rose to $2.8-billion.

But it's not all good news.

The company is still not turning a profit.

It said it lost $352-million this quarter.

That's up from the $348-million loss reported during last year's first quarter.

Still, investors seemed to be pleased with the results.

The company's stocks soared 20 percent in after-hours trading Thursday.

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