After reporting merely figures that pushed it up to the break-even point last year, JC Penny Co has been able to post net profit during the second-quarter.

Despite this, the retailer was forced to cut down its forecasts for this full fiscal because of "uncertain consumer climate."

Post the result declaration, the shares of the company went up to touch its 52-week low and was down by 98 cents. The final price was $19.82.

The retailer was hit when the main consumer class or the middle-income group pulled out because of recessionary pressure. But now the things are improving, said chairman and chief executive Myron "Mike" Ullman.

He further added that JC Penny is going to provide great value offers to the consumers and that is why it is coming up with many offers.

Meanwhile, it expects the fiscal profit to range between $1.40-$1.50 per share. As of now, it has a chain of 1,107 departmental stores and was able to book a profit f $14 million or 6 cents per share.

Analyst expectations were that it will be somewhere close to $1.64 per share.