Family shoes & women's apparel performs well at JCPenney
11 Jan '08
2 min read
The Company guidance for January is for a mid-single digit decline in both comparable department store sales and Direct sales on a 4-week basis, compared to a 3.6 percent increase and a 1.5 percent decrease, respectively, in last year's January period. For reference, total sales reported in last year's January period included about $200 million in department store sales and about $50 million in Direct sales from the 53rd week.
For the fourth quarter, comparable department store sales are now expected to decrease mid-single digits, and Direct sales are now expected to decrease low-single digits on a 13-week basis. In last year's fourth quarter, comparable department store sales increased 2.2 percent and Direct sales decreased 1.2 percent.
Based on actual sales results for the November and December periods and the above guidance for January, the Company now expects fourth quarter earnings to be at the lower end of its previous guidance of $1.65 to $1.80 per share.
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