JCP stock is moving higher this morning after JC Penney Company Inc (NYSE:JCP) reported a narrower-than-expected loss for the third quarter.
Lower LossesThe iconic department store chain JC Penney has been in all sorts of trouble for much of the year so far due to the mounting debt problems. Today, the company announced its financial results for the third quarter, and contrary to popular expectations, JC Penney actually managed to defy analysts’ estimates with regards to its losses.
The company managed to widen its margins and spent lower on advertising during the quarter. ...
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