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J.C. Penney’s Holiday Sales Jump
Jan 7, 2018 4:16 AM
By Rapaport News
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RAPAPORT... J.C. Penney saw a 3.4% increase in comparable-store sales — those at branches open for
at least a year — during the holiday period, led primarily by strong
performances in the home, beauty and fine-jewelry sectors.
The figures were for the nine weeks that ended December 30. In October, the retailer revamped its jewelry department,
adding a line of smart watches and rebranding its wedding- and engagement-ring offering
to improve shoppers’ buying experience.
“We are very encouraged with our overall [comparable]
sales performance during the holiday season,” company chairman and CEO Marvin Ellison said Thursday. “We are also pleased by our e-commerce business that continues
to outpace prior-year results with double-digit sales growth, largely driven by
sought-after gifting categories such as fine jewelry, home décor and luggage,
toys, boots and athletic footwear.”
The increase followed
a 1.7% rise in comparable sales for the third fiscal quarter, which ended
October 28.
Meanwhile, Macy’s comparable sales increased 1% year on year
during the November-December period, with fine jewelry among the departments
recording the highest sales.
Image: J.C. Penney
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Tags:
fine jewelry, J.C. Penney, jcpenney, Jewelry, Macy’s, Marvin Ellison, Rapaport News
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