Penney's books 1st same-store sales rise since 2011

J.C. Penney reported a 0.9% increase in same-store sales in October, the first monthly rise for the department store since December 2011. The increase fueled hopes that the retailer's turnaround efforts under CEO Myron Ullman, who returned to the post in April, are starting to bear fruit. Sales grew with the return of popular in-house brands including St. John's Bay, Ullman said, and national brands including Levi Strauss, Nike and Izod also had a strong showing.

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