J.C. Penney's turnaround is gaining traction.
The department store chain said Friday that its losses narrowed in the second quarter on better-than-expected sales, fueled by men's clothing, fine jewelry and the beauty brand Sephora. And a key revenue measure rose for the third straight quarter.
"Although there is much work to do … it's clear that when we execute well, we can deliver profitable sales and take market share," said Marvin Ellison, a former Home Depot executive who took over as CEO on Aug. 1 and presided over his first earnings call for Penney.
The results offer encouraging signs for the Plano, Texas-based retailer, which is more than two...