>>
Home / Knowledge / News / Apparel/Garments / JC Penney Q1 profit rises 22%

JC Penney Q1 profit rises 22%

11
May '06
Department store operator JC Penney Company Inc first quarter 2006 earnings per share from continuing operations increased 45.2 percent to $0.90 per share from $0.62 per share in last year's period.

Operating profit increased 19.8 percent to $369 million from $308 million last year. On a per share basis, net income in the quarter, including the effects of discontinued operations, was $0.89 per share compared to $0.63 per share last year.

"We are pleased with the progress the company continues to make in executing the long range plan, which is focused on building long term growth for our business. We have established strong momentum and are focused on accelerating growth and becoming a leader in the retail industry," said Myron (Mike) Ullman, III, Chairman and CEO.

"In the first quarter we delivered a strong increase in earnings, achieving our twelfth consecutive quarter of comparable store sales gains and continued to improve both our gross margin and SG&A expense ratios."

Ullman added, "While economic indicators are generally positive, we know that our customers - the moderate consumer - are faced with high energy prices and increasing interest rates. This makes it even more important that we deliver the style, quality, and shopping experience they want."

The company believes it is well positioned to benefit from the changes occurring across the retail landscape. To capitalize on the opportunity for JC Penney in this new environment, the Company is focused on executing the long range plan to drive continued improvement in its existing business and to deliver growth.


Must ReadView All

Pic: Dreamstime.com

Apparel/Garments | On 22nd Jan 2022

Dhaka, Berlin sign €20.15-mn pact to improve RMG workers conditions

Bangladesh and Germany have signed an agreement to support five...

Pic: Shutterstock

Apparel/Garments | On 22nd Jan 2022

UKVFTA brings positive results to bilateral trade: Vietnamese ministry

The recently effective UK-Vietnam FTA has led to positive outcomes,...

Pic: Shutterstock

Apparel/Garments | On 22nd Jan 2022

Cambodia approves new projects worth $1.9 bn, including 2 garment ones

The Council for the Development of Cambodia has approved 10 projects...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Aashumi Mahajan,

Aashumi Mahajan

The Luxe Maison is a premiere haute couture e-boutique established after...

Rishav Bajoria & Subham Sengupta,

Rishav Bajoria & Subham Sengupta

Launched in October 2020, the Gumti app could not have come at a more...

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Serkan Gogus, Mogul Nonwovens

Serkan Gogus
Mogul Nonwovens

Mogul is a global player ranked among the top 40 nonwoven producers in the ...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

Anju Modi, Label Anju Modi

Anju Modi
Label Anju Modi

Filmfare Award winner for best costume designer,<b> Anju Modi </b>is...

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

ESTEEMED CLIENTS

Phong Phu international JSC (PPJ)
Alix Partners
BIMBA ;& LOLA SL
IDH – The Sustainable Trade Initiative
Sateri (Jiujiang) Fiber Co.,Ltd
Chori Company Limited
John Varvatos
Rayonese Textile Inc., Division de Culp Inc.
Walmart
Calvin Klein
Amazon China
Hela Clothing Pvt Ltd
Maceton Limited
MAS Active / MAS Kreeda / MAS Bodyline
H;&M Hennes ;& Mauritz (Far East) Ltd
Permoda(Koaj/Armi/Pronto/Bkul)
Gloria Jeans
Helly Hansen Far East Ltd
Lacoste (Wanchai)
Gatsby Africa
KIABI
Bluestem Global Sourcing Limited
Sainsbury's Argos Asia Limited
Lifestyle
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
International Textile Manufacturers Federation
Etam Group Strategy Hong Kong Limited
PVH Corporation
J ;& P Coats
Under Armour Global Sourcing Ltd
Tchibo GmbH
The LYCRA Company Singapore  Pte. Ltd
Abit
Decathlon
Asos
Lenzing Aktiengesellschaft
Aquarelle Clothing Limited
Arvind Limited
Restoque S.A.
Lisa S.P.A.
Groz-Beckert East Asia LLP
Tommy Hilfiger
Eastman Chemical Company
C;&A Sourcing International Ltd
IKEA of Sweden AB
Midas Clothing Limited
Alison Hayes Romania
Grasim Industries Limited
Gap International Sourcing Limited
Hirdaramani International Export Private Limited
Seasalt Limited
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Vardhman Textile Ltd
Puma
Aramark Uniform ;& Career Apparel, LLC
Desigual - ABASIC, S.A.
BIANCA
Esprit Europe Services GmbH
Chico’ FAS
Benetton Group
Lululemon Athletica Inc
Sportswear Company Spa
THE BOMBAY DYEING ;& MFG.CO. LTD
G-Star Raw C.V.
Splash
SHAHI Exports Pvt Ltd
NITI Aayog
LC Waikiki
Page Industries Limited (Bangalore)
T.T. Limited
Gokaldas Exports Limited
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Huntsman (Singapore) Pte Ltd
SYNERGIES HONG KONG LIMITED
Green Fibre
KAS Direct Sourcing
Tory Burch Hong Kong Ltd
Target Corporation (MN)
Rosset ;& Cia Limited
Recron Polyester from Reliance Industries Limited
Varner AS Retail
Sportmaster Ltd.
Cat Tuong Real Estate Group Joint Stock Company
The Top Form Brassiere Manufacturing Company Limited
Landmark Group
Boardriders Asia Sourcing Limited
Reiter India Private Limited
Babyshop
Vianney Textil Hogar S.A. De C.V.
Brandix Lanka Limited

January 2022

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


Advanced Search