Unfortunately, JC Penney Left Out A Bunch Of Crucial Details In Its Optimistic Press Release

CEO Myron Ullman added that the company's gross profit margin was hurt by lower clearance margins.

And that's about all they said.

"Although JC Penney continues to stress that trends in sales are heading in the right direction (disclosure: am intrigued by the trajectory in gross margins as mentioned by Mike Ullman), there remains a little overlooked aspect to the entire newfound "bull" opinion on the stock," warned retail guru Brian Sozzi of Belus Capital Advisors.

"[M]entions of profits are non-existent, as is further color on the 3Q13 cash burn rate," added Sozzi. "I believe receiving factual numbers on each topic are required in order to think that JC Penney will win the "Comeback Kid of 2014" in the stock market; for the time being it's apparent that a gross margin still under intense pressure from two angles (lower margins on clearance merchandise and increased promotional events) are what's driving the profound sales rebound, therefore constraining profit potential and maintaining caution on the liquidity of the company."

J.C. Penney will announce its full Q3 financial result on November 20 before the opening bell.