Jewelry sales helped buoy a better-than-expected set of J.C. Penney results, as the struggling department store announced that second quarter comps increased 6 percent.
Fine jewelry was singled out as a top-performing category in the second quarter (ended Aug. 2), along with women’s and men’s apparel and accessories and home.
This is the third consecutive quarter of comp growth for the retailer, and it said it expects mid-single-digit comp growth for the rest of the year.
Overall sales increased 5.2 percent to $2.8 billion. However, it still incurred a $172 million loss for the quarter.