|
RAPAPORT... J. C. Penney Company Inc. reported that same-store sales improved 3.7 percent year on year for the nine-week Christmas season, which included November and December. JCPenney reported same-store sales growth of 3.1 percent for the Christmas season one year ago. The retailer added that its fourth quarter guidance for comparable-store sales would likely settle at the upper end of its target range of 2 percent to 4 percent.
Myron Ullman, III, the CEO of JCPenney, said, "Our highest priority over the last year has been to restore profitable sales growth at JCPenney. This holiday season was instrumental in that effort -- and our teams delivered. I would like to thank our associates for their hard work, warrior spirit and commitment to delivering an exceptional customer experience every day. Customers clearly responded to our combination of great merchandise and compelling promotions this Christmas. We are proud of these results, and believe the work we are doing will fuel the continued growth of our business."
|