>>
Home / Knowledge / News / Apparel/Garments / JC Penney reports 4.9% hike in July same-store sales

JC Penney reports 4.9% hike in July same-store sales

03
Aug '06
Apparel giant JC Penney Company Inc has total department store sales increased 5.5 percent for the four weeks ended July 29, 2006.

On a comparable store basis, sales increased 4.9 percent, on top of a 1.6 percent increase in last year's period. All merchandise divisions had sales gains, with the best divisional performances in family shoes, women's accessories and men's apparel. Geographically, all regions had sales gains with the best results in the western and southeastern regions of the country.

Internet sales through jcp.com continue to represent the company's fastest growing sales channel, increasing approximately 21 percent in July on top of a 30 percent increase last year. Direct sales in total were flat for the period, consistent with previous guidance for sales to be flat-to-up slightly. Last year, Direct sales increased 4.0 percent.

While the company is entering the Back-To-School selling season with positive momentum, it continues to take a cautious approach toward future guidance given macroeconomic conditions. Accordingly, for the four-week August period, management guidance is for both comparable department store and Direct sales to increase slightly. In last year's August period, comparable department store sales increased 2.8 percent and Direct sales were flat.

Based on sales and operating performance trends, management now expects second quarter earnings from continuing operations to be approximately $0.71 per share, anincrease of $0.06 per share from previous guidance. This guidance reflects continued improvement in operating performance coupled with lower net interest expense. Management will address guidance for the back half of the year in the second quarter earnings release and conference call on Aug. 10.

JC Penney Corporation Inc, the wholly owned operating subsidiary of JC Penney Company Inc, is one of America's largest department store, catalog, and e-commerce retailers, employing approx. 151,000 associates.

JC Penney Company Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Jan 2022

Supply bottlenecks, high prices, omicron affect growth prospects: ECB

The global economy is on a recovery path, although persisting supply...

Pic: Shutterstock

Textiles | On 19th Jan 2022

Inflation peaks months earlier in Turkey than expected

Turkish finance minister Nureddin Nebati said inflation would peak in ...

Pic: Shutterstock

Textiles | On 18th Jan 2022

Singapore, Bangladesh agree to conclude FTA early

Bangladesh and Singapore have agreed to accelerate the process of...

Interviews View All

Textile Industry, Head Honchos

Textile Industry
Head Honchos

Increase foreign exchange and create jobs

Textile Industry, Head honchos

Textile Industry
Head honchos

Occam's razor principle and purpose-driven innovations

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Silke Brand-Kirsch, Glatfelter

Silke Brand-Kirsch
Glatfelter

Glatfelter is a leading global supplier of engineered materials. <b>Silke...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

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

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Samant Chauhan, Label Samant Chauhan

Samant Chauhan
Label Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

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

Babyshop
PVH Corporation
Sateri (Jiujiang) Fiber Co.,Ltd
Phong Phu international JSC (PPJ)
Lifestyle
SYNERGIES HONG KONG LIMITED
Varner AS Retail
Benetton Group
Arvind Limited
Decathlon
Maceton Limited
Eastman Chemical Company
Midas Clothing Limited
Vianney Textil Hogar S.A. De C.V.
Hela Clothing Pvt Ltd
Lululemon Athletica Inc
Tory Burch Hong Kong Ltd
Page Industries Limited (Bangalore)

January 2022

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


Advanced Search