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October 28, 2013 AT 12:30 PM
J.C. Penney told investors for the third time in less than five weeks that sales trends are improving and reaffirmed its forecast calling for a rise in same-store sales in the third quarter. The comments by Penney CEO Myron Ullman at a conference on Monday boosted the department store chain's shares by 6 percent when he said "I told lenders it would be one thing if we had two things wrong and they couldn't be fixed. We have 30 things wrong and they can all be fixed,"