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JC Penney Company Inc (NYSE:JCP)’s stock rose following same-stores sales improvement report

J. C. Penney Company, Inc. (NYSE:JCP) is a retailer,  the company currently operates around 1,102 department stores in 49 states and also some in Puerto Rico as of January 2012. The company’s business consists of selling services and merchandise to their customers through their departmental stores and also through the internet via its website, It sells among other things, family apparel, accessories, jewelry which includes both fashion and fine jewelry. It also sells beauty products through one of its subsidiaries, Sephora. The supply chain network for the company is also wide as it has 27 facilities operational in 18 different locations. It also acquired worldwide rights for the Liz Claiborne family of trademarks and IPR. It has also acquired trademarks and IPR related Monet rights in the US as well as in Puerto Rico.

J.C. Penney Company shares recently saw a jump of over 4% during the early trading hours on Tuesday following mostly the report that the retailer had released showing improvement in same-store sales for the month of September. The company also announced its year end liquidity which is now speculated to be above the 2 billion mark.

Sin the premarket trading, the share values rose up by as much as 8% and the stock was up by almost 4%. The report also showed same store sales for comparable stores, that dell 4% for the month of September as compared to last year but in comparison with August, it was 580 base points over the results. Share prices of JCP jumped up by 6.61% to settle at $8.22 in the morning trading.

The recent rise in share prices has given investors the much needed encouragement they needed. It is also a boost for the company as they too have been trying to boost revenues. Prospects look good for the future with new acquisitions too on the way.

Published by Lisa Ray

Lisa has a Bachelor of Arts in journalism from Purdue University and 3 years of experience in the publishing field.

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