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Excellent news. Earnings at $0.76/share.

J.C. Penney's quarterly profit surges

J.C. Penney Co.'s second-quarter profit vaulted nearly 37%, the retailer reported Thursday, and management raised its full-year forecast as shoppers have been busy scooping up women's apparel, jewelry and accessories. Still, the Plano, Texas-based company remains cautious on its outlook, repeating comments made last week that it will take a guarded approach as it enters the second half.

J.C. Penney's shares opened the trading session higher but soon turned fractionally lower, changing hands lately at $63.67.

Completing a five-year turnaround that Wall Street has widely embraced, J.C. Penney said it earned $179 million, or 76 cents a share, in the second quarter ended July 29, up from the prior year's profit of $131 million, or 50 cents a share.
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