Retail Buzz: J.C. Penney Company, Inc. (JCP) Shares Soar, But Why?

Category: Companies / Oct 08, 2013 11:11AM EDT

J.C. Penney Company, Inc. (NYSE: JCP) shares jumped over 4 percent in early trading on Tuesday after the retailer released a report showing September same-store sales improvement over August. In addition, the company announced its year-end liquidity is now expected to be more than $2 billion.

Shares rose as much as 8 percent in premarket trade and the stock was up nearly 4 percent at the open after the report revealed same-store sales for comparable stores in Septmeber fell 4 percent year-over-year, but were up 580 basis points over its August results.

On Tuesday, shares of J.C. Penney Company, Inc. jumped 6.61 percent to $8.22 in morning trading.

The Dow Jones industrial average fell 19.77 points or 0.13 percent, to 14,916.47. The S&P 500 lost 2.05 points or 0.12 percent, to 1,674.11. The Nasdaq Composite dropped 20.50 points or 0.54 percent, to 3,749.53.