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JC Penney sales rise on demand for home goods, Sephora products

Department store operator J.C. Penney reported a 2.7 percent rise in quarterly revenue, helped by higher sales in its home and fine jewelry categories and at the Sephora departments in its stores.

The company's net loss narrowed to $138 million, or 45 cents per share, in the second quarter ended Aug. 1, from $172 million, or 56 cents per share, a year earlier.

J.C. Penney's revenue rose to $2.88 billion from $2.80 billion.

Shares popped 8 percent around 10:30 a.m. ET on the news.

Topeka Capital Markets retail analyst, Dorothy Lakner, told CNBC's "Squawk on the Street" Friday that "clearly with J.C. Penney's, it's a turnaround story."

CNBC's Reem Nasr contributed to this report.