(Reuters) - Department store chain J.C. Penney Co Inc reported
a narrower quarterly loss and lifted its annual gross margin TARGET (TGT.NY) helped by stronger sales.
The company posted a loss of $167 million, or 55 cents per share, in the first quarter ended May 2, compared with a net loss of $352 million, or $1.15 per share, a year earlier.
It said it now expects gross margin to improve 100 to 150 basis points for 2015, up from a 50 to 100 basis points improvement under a prior forecast.
(Reporting by Nathan Layne in Chicago; Editing by Chris Reese)
