WHOA: JC Penney Shares Just Spiked

jc penney

Photo: Bloomberg

Shares in mid-market department store JC Penney surged more than 9 per cent following the company’s update on its shop-in-shop experience, before giving up those gains minutes later.Click here for updates >

According to Chief Executive Ron Johnson, stores-within-stores that sell individual brands like Levi’s are comping up more than 20 per cent.

Shares closed flat at $29.09.

Brian Sozzi, Chief Equities Analyst at NBG Productions, has been following the day’s event’s closely. Below, some of his key points.

SEE ALSO: Here Are Huge Photos Of The New JC Penney >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.