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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
Tags: fine jewelry, J.C. Penney, jcpenney, Jewelry, Macy’s, Marvin Ellison, Rapaport News
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