Earlier this week, struggling retailer J.C. Penney (NYSE:JCP) announced less-than-stellar earnings, yet was up nearly 9% at one point on the day the numbers were released. Consumer Goods analysts Michael Finarelli and Sean O'Reilly join Mark Reeth on this week's Consumer Countdown to try to figure out why investors were so pleased.
While the company missed on earnings, its sales weren't that bad (at least not as bad as they have been). In addition, CEO Mike Ullman promised that J.C. Penney is enjoying yet another turnaround and that this holiday season will be a strong one for the company. Do Mike and Sean believe him? Check out the video below to find out!