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JCP 1Q Comp. Sales +1.3%

(Filed Under Financial and General Interest News). After posting sales decreases during the third and fourth quarters of 2009, J.C. Penney Company, Inc. reported improving sales results during the first quarter ended May 1, 2010. The company cited an increase in comparable store sales of 1.3 percent, and a net sales increase of 1.2 percent. Internet sales increased approximately 1 percent. Men’s and shoes were among the retailer’s best-performing categories, and the southeast was the best performing region nationwide.

During the quarter, JCPenney opened two stores and closed one store, bringing its total store count to 1,109.

For this year’s second quarter, the company expects comparable store sales to increase by 2.5 to 3 percent, and total sales to increase by approximately 50 basis points less than comparable store sales.

more Financial and General Interest News >>

Published 05-18-2010 by Amanda Torres Price

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