J.C. Penney's 1Q results at a glance

— A breakdown of J.C. Penney's first-quarter results:

NET INCOME: $60 million, or 25 cents per share, for the quarter ended May 1. Up from $25 million, or 11 cents per share, in last year's first quarter.

REVENUE: Up 1.2 percent to $3.93 billion.

GROSS PROFIT MARGIN: Up to 41.4 percent in the quarter from 40.5 percent.

STORE EXPANSION AND REMODELING PLANS: Opened two new stores and closed one store, bringing its total to 1,100. Penney also added its Sephora beauty shop to 37 existing stores and one new store location bringing the total number of Sephora locations at Penney to 193.

GUIDANCE: The retailer raised its full-year guidance on Friday, but even the higher forecast and the second-quarter outlook was muted.