J.C. Penney's Turnaround Continues; Reports Solid Sales Gains in 2Q
J.C. Penney's turnaround is gaining traction. The department store chain said Friday that its losses narrowed in the second quarter on better-than-expected sales, fueled by men's clothing, fine jewelry and the beauty brand Sephora. And a key revenue measure rose for the third straight quarter. But J.C. Penney still has an uphill road to a full recovery.