J.C. Penney shares soar following earnings report. J.C. Penney (JCP) swung to a net profit of $35M in Q4 from a loss of $552M a year earlier, although revenue fell 2.6% to $3.78B and missed consensus. Adjusted losses per share were $0.68 and topped forecasts by $0.17. Same-store sales rose 2% in Q4 as JCP's online business showed strength. The retailer forecast that comparable sales will grow in the mid-single digits in 2014 while it said that it will also enjoy "significant" margin expansion. Shares surged 17.45% premarket.
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