JCPenney continues fighting serious losses

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.