Shoppers pass a J.C. Penney store in New York.
Scott Mlyn | CNBC
J.C. Penney reported a narrower-than-expected loss for its latest quarter, sending its shares higher Friday morning.
Its stock, which closed Thursday at $1.10, surged more than 22% at one point during premarket trading. It was up nearly 11% shortly before the opening bell.
Here’s how Penney did for the quarter ended Nov. 2 compared with what analysts were expecting, based on Refinitiv data:
- Earnings per share: a loss of 30 cents vs. a loss of 55 cents expected
- Revenue: $2.38 billion vs. $2.51 billion expected
- Adjusted same-store sales: down 6.6% vs. a drop of 7.7% expected
“The past quarter was an exciting and energizing time at…