Department store chain J. C. Penney reported second quarter earnings of 50 cents vs. loss of 2 cents a year ago on revenue growth of 5.4% to $3.98 billion. Same-store sales rose 4.2% after growing 6.9% a year ago and catalog and internet sales were up 7.1% compared to loss of 1% year ago.

On continuing operations for the quarter the company earned 46 cents vs. 22 cents a year ago and beat the estimates of 40 cents. Average estimate from analysts was 40 cents for the quarter on revenue of $3.99 billion.

For the third and fourth quarter the company has revised the estimate to 82 cents and $1.52 per share and for the full year raised the guidance to $3.30 to $3.35 per share vs. estimate of $3.29 per share.

The company shares were down 4% at close.

The retailer recently sold money losing Eckerd drug store chain and has been in a five-year operations overhaul.