J.C. Penney Posts Q2 Growth

Plano, Texas, J.C. Penney posted second-quarter earnings from continuing operations of $122 million, up 79% from $68 million, in the same period last year. There were fewer shares outstanding in the most recent quarter.

Net income amounted to $131 million in the latest quarter and $1 million in the year-earlier period.

Sales rose 5.4% in the three months ended July 30 to $3.98 billion from $3.78 billion a year earlier. Same-store sales increased 4.2%.