UPDATE: J.C. Penney Posts Wider Q2 Loss

J.C. Penney Co

posted a wider second-quarter loss. J.C. Penney posted a quarterly loss of $586 million, or $2.66 per share, versus a year-ago loss of $147 million, or $0.67 per share. Its adjusted loss came in at $2.16 per share. Its sales declined 12% to $2.66 billion, while comparable sales fell 12%. J.C. Penney shares gained 1.59% to $13.43 in pre-market trading.