At market open, the stocked jumped 34 percent.
The retailer’s comparable sales also declined 1.3 percent.
Despite better-than-expected Q2 performance, skeptical investors have been selling off the firm’s stock.
All retail-investor eyes are on department stores this week.
JCPenney chairman and CEO Marvin Ellison has a foolproof strategy for keeping family first.
The Sam Edelman co-founder’s namesake line will be at 500 stores and JCPenney.com.
There is mounting urgency around the need to address retail’s apparent downfall. But the situation has been years in the making.
The department store’s stock is booming in response to the news.
Still, Macy’s CEO Jeff Gennette said the department store’s performance was consistent with the company’s expectations.
The retail industry lost nearly 30,000 jobs in March.