Struggling J.C. Penney saw its sales increase 10.1 percent last month Forbes reported Tuesday.
The news marks the second occasion the retailer's sales increased this fall. The first time dates back to October, which showed a .9 percent rise. The company was helped by good numbers from Black Friday.
"The traffic and conversion we saw both in stores and online this weekend was exciting for everyone across our organization," J.C. Penney Mike Ullman told Forbes. "We know the environment will remain as competitive as ever, and we are all working to maintain our momentum through the holiday season."
Same-store sales for the company increased more than five percent to $10.64 after markets closed, and 0.9 percent last month marking the initial time sales showed growth dating back to December 2011 according to CNN Money.
Investor Bill Ackman resigned from the J.C. Penney board in August. According to Reuters, Ackman was involved in a conflict after he expressed his concern about where the company was going and how management was performing. Ackman then sold all of his shares in the company back to the retailer.
J.C. Penney filed the deal with the United States Securities and Exchange Commission along with statements from Pershing in August. Ackman resigned from J.C. Penney's board earlier this month after conflicts arose about the leadership of the retailer. Ackman was also not pleased with Ullman and wanted to replace him, but couldn't because the company was in support of him. Therefore Ackman stepped down, and Ullman took over as CEO.
Ackman's hedge fund Pershing Square Capital Management started to purchase the retailer in Oct. 2010 at a time when shares were $25 each.
Pershing then sold all of its 39 million shares to Citigroup, which had shares of $12.90 each giving Ackman about $500 million in losses.
