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J. C. Penney Company, Inc. (JCP) announced its third quarter financial results for the 2013 fiscal year, reporting earnings that declined and came in under analyst expectations. The retailer’s third quarter revenue was $2.78B, just missing analyst predictions of $2.79B, and lower than this quarter last year at $2.93B. The company posted an adjusted net loss of $457M, or $1.81 losses per share. For the quarter, same-store sales were down 4.8%, however in the month of October, comparable-store sales increased 0.9%. JC Penney also saw monthly, sequential improvements in sales during the quarter, which CEO Mike Ullman believes shows strong progress to reconnect with its customers. Ullman is pleased with the company’s progress as it heads towards long-term profitability and short-term victories in Q3 and early Q4.