NEW YORK — Focused on centralization, J.C. Penney Co.’s turnaround accelerated in the third quarter as the retailer quadrupled its profits.

Investors were delighted by the stronger-than-expected results, which were helped somewhat by special items, and traded up shares of the firm a whopping $2.45, or 13.2 percent, to close Tuesday at $20.96 on the New York Stock Exchange.

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