J.C. Penney's stock fell Friday after the retailer delivered mixed results for the first quarter.
Shares of J.C. Penney closed down almost 3 percent. In the premarket, the stock briefly fell more than 12 percent.
The company reported an adjusted loss of 32 cents a share on revenue of $2.81 billion. Analysts polled by Reuters expected J.C. Penney to report a loss of 38 cents on revenue of $2.92 billion.
Same-store sales fell 0.4 percent for the quarter, with Wall Street expecting a gain of 3.2 percent, according to FactSet.
Penney also reiterated its full-year earnings guidance, but lowered its profit margin outlook.
At Friday's close, the stock was up almost 14 percent for the year, but had shed almost 25 percent in the past month.
JCP in past monthSource: FactSet