Shares of J.C. Penney, which had rallied nearly 8 percent to close at $7.76 before the results were announced, slipped to $7.34 in after-hours trade. J.C. Penney said it now expects same-stores sales to grow 3.5 to 4.5 percent for the full year, down slightly from its prior guidance for mid-single digit growth. The retailer managed to narrow its quarterly loss by 61 percent to $188 million, or 62 cents per share, as it cut back on discounts and reined in costs.