J.C. Penney quarterly sales rise 6.3 percent, shares surge

15/05/2014 - 21:22

(Reuters) - Department store operator J.C. Penney Co Inc reported a 6.3 percent rise in first-quarter sales, helped by strong sales of household goods and men's and women's apparel.

J.C. Penney shares rose 15 percent to $9.67 in after-hours trading on Thursday.

The company reported a net loss of $352 million, or $1.15 per share, compared with a loss of $348 million, or $1.58 per share, a year earlier.

Sales rose to $2.80 billion from $2.64 billion, helped by a 6.2 percent rise in same-store sales.

(Reporting by Siddharth Cavale in Bangalore)