Reuters/Natalie BehringIt can take a long time for a company to turn itself around, and no one knows that better than investors in discount retailer J.C. Penney (NYSE: JCP). Excluding items, the company’s adjusted loss came in at $0.41 per share.

Where Macy’s has been in the middle of a protracted sales slump, both overall and in terms of comp sales, its mid-tier retailing rivals have been posting sales gains – particularly J.C. Penney, which seems to be wooing back numerous customers it lost during its near-implosion two years ago. Mike Ullman retook the CEO job in April 2013 and stabilized the century-old chain by undoing many of predecessor Ron Johnson’s changes. Nordstrom shares rose 5% in midmorning trading in the stock market today.

J.C. Penney CEO Marvin Ellison said that while he’s pleased with the firm’s improved performance, there’s still significant work to be done. Even though he concedes that a lot needs to be tackled before the company enhances its position as a global leader, Mr. Ellison asserts J C Penney is on track to hit its long-term financial goals. The Organization sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney and house furnishings.

Moreover, the company generated negative free cash flow of $53 million in the reported quarter as against free cash flow of $76 million in the prior-year quarter. The company said revenue by that measure will increase more than that in the current quarter, helped by back-to-school sales that Ellison said on a conference call were off to a “strong start”. The strong performance of this segment is viewed by analysts as favorable point, since it indicates revival of consumer confidence in the retail chain.

J.C. Penney JCP, +5.33% announced on August 3 that it had hired Michael Amend to serve as executive vice president of omnichannel.

Looking Ahead: The company increased its SG&A and EBITDA guidance and reiterated its remaining 2015 full-year guidance.

J.C. Penney is working to keep a lid on costs, with selling, general and administrative expenses falling 6.5 percent to $901 million in the quarter.

Sales at all U.S. retailers were choppy during the quarter, according to Commerce Department data. They expect to earn about $620 million, compared to their previous estimate of about $600 million.

J. C. Penney Company, Inc.is a holding company whose principal operating subsidiary is J.C. Penney Corporation, Inc.