With its first-quarter earnings slated to be released after the market close on Thursday, May 15, 2014, investors are on the edge of their seats wondering how J.C. Penney Company's (NYSE:JCP) turnaround is progressing. Last time the company reported, when it released fourth-quarter and full-year 2013 results, the results were good enough to send the shares flying over 50% in just a few short weeks following the release. Can investors expect the same following this earnings report? Motley Fool Consumer Goods Analyst Sean O'Reilly discusses the company's progress so far and what to look for when the department store retailer reports its latest results. 

Sean O'Reilly owns shares of J.C. Penney. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.