J. C. Penney Holiday Same-store Sales Up 3.7%

(RTTNews) - Department store operator J. C. Penney Co., Inc. (JCP) said Tuesday that its same-store sales for the combined nine-week November and December period rose 3.7% over the same period last year.

"Our highest priority over the last year has been to restore profitable sales growth at JCPenney. This holiday season was instrumental in that effort - and our teams delivered," said Myron E. (Mike) Ullman, III, chief executive officer.

The company also said that it now expects to report fourth quarter same-store sales at the upper end of its previous guidance range of 2% to 4 %.

J. C. Penney shares gained 18.90% in after hours trading after closing the day's regular trading session at $6.56, up 12 cents or 1.86%.