"Despite a difficult retail environment, our strong performance during the Easter holiday period and other key promotional events enabled us to deliver better than anticipated sales results," wrote the company in a release.
CEO Mike Ullman, who returned to the company last year, is trying to steer the retailer back to its roots of coupons and promotions. When he was replaced by Ron Johnson, a strategy was implemented that abandoned promotional sales and built stores within stores, confusing consumers. Johnson left only after 17 months as CEO.
J.C. Penney(JCP) expects to ride the momentum and projects a single-digit same-store sales increase next quarter, too.