Home / Knowledge / News / Apparel/Garments / Q3 FY'14 comparable store sales decline 4.8% at JC Penney
Q3 FY'14 comparable store sales decline 4.8% at JC Penney
21
Nov '13
J. C. Penney Company, Inc. announced financial results for its fiscal third quarter ended November 2, 2013.

For the third quarter, JC Penney reported net sales of $2.78 billion compared to $2.93 billion in the fiscal third quarter of 2012. Comparable store sales declined 4.8% for the quarter, which represented a sequential improvement of 710 basis points when compared to the second quarter of fiscal 2013.

The quarter ended with a positive 0.9% comparable store sales gain in October. In addition, sales results improved sequentially each month within the quarter. Online sales through jcp.com were $266 million for the quarter, up 24.5% versus the same period last year and reflecting sequential increases through the quarter.

Women's apparel, men's apparel and fine jewelry were the Company's top performing merchandise divisions.

For the third quarter, gross margin was 29.5% of sales, compared to 32.5% in the same quarter last year. Gross margin for the third quarter was negatively impacted by lower clearance margins due to the overhang of inventory from the first two quarters of the year, higher levels of clearance units sold, as well as the Company's transition back to a promotional pricing strategy as compared to last year's strategy.  Notwithstanding, gross margin did improve sequentially throughout the quarter.

Click here to view full results.

JC Penney


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search