Penney's 1Q net income more than doubles

NEW YORK (AP) - J.C. Penney Co. says its first-quarter net income more than doubled as sales improved across most categories.

But the department store operator chain says its customers are still budget-conscious and it is offering a muted profit outlook.

Penney said Friday that its net income rose to $60 million, or 25 cents per share, in the quarter ended May 1. That compares with $25 million, or 11 cents per share, in the year-ago period.

It says revenue rose 1.2 percent to $3.93 billion.

The earnings and revenue figures were in line with analysts' expectations.