1. J.C. Penney stock surged this morning as the firm announced quarterly losses have been cut in half and they are joining Macy’s in partnering with thredUP to sell used clothing.
2. Walmart beat Q2 expectations on both revenue and earnings with same-store sales up 2.8% and the retailer predicted U.S. sales will be on the high end of their previous guidance of 2.5%-3%. The company also reported that their NextDay delivery service covers about 75% of the U.S. population.

Source: JCPenney Halves Losses, Will Begin Selling Used Clothing | New York Times

Source: Walmart beats sales expectations, boosts guidance | Yahoo Finance