NEW YORK (AP) — THE RESULTS: J.C. Penney Co. reported a bigger-than-expected loss and plummeting sales during the second quarter.

BEHIND THE FIGURES: Six months after implementing a new pricing plan that gets rid of hundreds of sales events in favor of every day lower prices, Penney is seeing that its customers are still not buying into it.

OUTLOOK: Penney withdrew its full-year profit guidance, but shares rose as investors were soothed by CEO Ron Johnson's more detailed vision of how he wants to re-create the shopping experience at Penney.