Tomahawk, WI 12/02/2013 (BasicsMedia) – J.C. Penney Company, Inc. (NYSE:JCP) is still facing shrinking sales and bulging losses, only that now it looks reasonable to believe the company’s CEO Mike Ullman that things are improving. Looking at the most recent quarter in the category of revenue against the year before is testimony.

Revenue for the quarter dipped 5.1% compared to 27% dip in the year-earlier period. The quarter’s revenue of $2.78 billion almost matched the Wall Street expectation of $2.79 billion. Moreover, the company noted impressive same store sales in October which revealed the strides that Ullman is making to get the retail chain back on its feet.

Looking at the most recent quarter, there is still a lot of ground for

J.C. Penney Company, Inc. (NYSE:JCP) to cover in the category of profits or losses in this case. The company’s losses increased at a time when analysts had expected them to slim. However, it can be seen that one-time items are still having negative impact on the company’s finances and these are expected to ease up going forward.

Even though J.C. Penney Company, Inc. (NYSE:JCP) is still reporting in red ink, there is something that the retail store giant has won hands down and that has to do with the rumored bankruptcy. In September and the better part of October, the company was reported to have hired a bankruptcy counsel, sparking fears that things had taken a turn for the worst.  But that has not happened the rumors died their natural death.

What is however known is that the company’ management is still seeking to improve its financial position through injections to ensure that the retailer emerges from the long holiday season with better sales and profits when it reports Q4 in February 24’14.

The stock’s performance is till on a swing trading up on good guidance and Wall Street sentiment and down market panic over rumors. The stock is down about 50% year to date but looks poised for steep takeoff as things improve in the retailer’s performance.

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