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JCPenney Sales Up,Not Turning Profit
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.