J.C. Penney beats 3Q sales estimates

Department store operator J.C. Penney reported better-than-expected quarterly net sales on Friday, helped by demand for home products and footwear and a strong performance by the Sephora beauty shops in its stores.

The company posted a net loss of $137 million, or 45 cents per share, compared to a loss of $188 million, or 62 cents per share, a year earlier.

Revenue rose 4.8 percent to $2.9 billion.

Analysts predicted sales of $2.88 billion.

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