J.C. Penney Co. Inc.'s stock JCP, -0.80% soared 13% in premarket trade Thursday, after the department store chain reported a fiscal fourth-quarter profit and revenue that beat expectations, while announcing more store closures. Net income for the quarter to Feb. 2 fell to $75 million, or 24 cents a share, from $242 million, or 77 cents a share, in the same period a year ago.
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