Department store chain J.C. Penney Co. Inc. said Thursday its same-store sales in May fell 4.4 percent, but the company still beat Wall Street analysts' estimates.
Analysts polled by Thomson Financial expected same-store sales to drop 5.8 percent.
Same store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.
The company said total sales for the four weeks ended May 31 fell 2.4 percent to $1.34 billion from $1.38 billion in the prior-year period.
The retailer said its top-performing categories were family footwear and women's accessories. Sales in fine jewelry and most home categories, meanwhile, were weak.
The company added that the Northwest region had the strongest results.
J.C. Penney also said it expects its June same-store sales to decrease in the mid-single digits.