JC Penny Shines Amid Challenging Economy

Retailer JC Penney JCP posted a second quarter profit as it benefited from better inventory control and better branding of merchandise. However, profits were below Wall Street projections. According to JC Penney, it earned $14 million, or $0.06 per share, in Q2. This comes on the back of a $1 million loss in Q2 2009. The revenues were at $3.94 billion, more or less similar to last year’s figures. Analysts expected $0.05 per share on revenue of $4.0 billion. JC Penney is up 1.20% at $21.05 in today’s pre-market trade. Read more from Benzinga's Company news.