JC Penney (JCP) May Comps Up 11.1%; Raises Guidance

JC Penney Company, Inc. (NYSE: JCP) said on a comparable store basis, sales increased 11.1 percent, well above guidance for a low single digit sales increase. Based on sales performance in the May period, management is raising guidance for earnings from continuing operations in the second quarter by $0.02 per share to approximately $0.62 per share, up from previous guidance of approximately $0.60 per share.

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