JCPenney's Oct sales led by fall apparel & accessories demand
04 Nov '06
2 min read
J. C. Penney Company Inc comparable department store sales increased 8.1 percent for the four weeks ended Oct. 28, 2006, well ahead of initial guidance for the month and compared with a 2.4 percent increase last year.
Total department store sales increased 11.0 percent for the four weeks, including the positive impact from 28 new and relocated stores opened in 2006 - 20 of which opened on Oct. 6. The October store openings represent the first significant acceleration of the Company's store growth program that will add more than 175 new stores over the 2006 to 2009 time frame.
Sales in the October period were led by strong consumer demand for fall apparel and accessories, with the best overall merchandise performance in men's, children's and women's apparel categories.
Geographically, all regions of the country generated consistent, strong comparable store sales gains. Management is pleased with sales results for its new product launches, including a.n.a, East 5th and JCPenney's new, exclusive beauty offering, Sephora, which launched in the first five stores on Oct. 6.
Internet sales through www.jcp.com continue to represent the Company's fastest growing sales channel, increasing approximately 26 percent in October, on top of a 20 percent increase last year. Total Direct sales increased 2.1 percent for the period, which was in line with guidance, and compared with a 2.9 percent decrease last year. The best performing categories in Direct were women's apparel and hard home merchandise.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
