JCPenney hopes to avoid the same fate as its rival, Sears.
According to CNN, the department store reported a third quarter loss of $151 million, which is smaller than what was expected.
The company also said that sales at stores open at least a year fell 5.4%.
The department store hasn't had a profit since 2010.
JCPenney has posted nearly $4 billion in losses since then and has been closing stores in an attempt to stay afloat.
The company is also lowering sales expectations for this year.
JCPenney continues fighting serious losses