J.C. Penney (NYSE:JCP) is clearly moving in the right direction when it comes to its turnaround. Both sales and profit margins are showing promising performance, and management is quite optimistic regarding chances for a sustainable turnaround. Importantly, the company still offers substantial room for gains when compared with industry peers Macy's (NYSE:M) and Kohl's (NYSE:KSS).

The slideshow below contains some ideas for investors interested in J.C. Penney and its potential for gains in the years ahead. 

Andrés Cardenal has no position in any stocks mentioned, and neither does The Motley Fool. 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.