J.C. Penney results bright spot amid retail gloom

Department store operator J.C. Penney Co Inc reported a higher-than-expected quarterly profit, helped by strong holiday sales and fewer discounts, sending its shares up 10 percent in premarket trading on Friday. J.C. Penney's results, which were released several hours before they were due on Friday morning, were a bright spot in a troubled retail industry. Few companies, except home improvement chains such as Home Depot Inc and Lowe's Cos Inc , have been able to beat Wall Street estimates amid a