J. C. Penney Company Inc total department store sales decreased 1.2 percent for the five weeks ended Oct. 6, 2007. Comparable department store sales decreased 4.6 percent and total Direct sales decreased 8.5 percent, below management's most recent guidance for a low-single digit sales increase for both. Internet sales through jcp.com increased 6.4 percent for the month, on top of a 36 percent increase last year.
In last year's September period, comparable department store and Direct sales increased 8.7 percent and 11.8 percent, respectively, representing one of the most difficult comparisons of the year.
Myron E. (Mike) Ullman, III, chairman and chief executive officer of JCPenney said, "JCPenney continues to execute its long-range plan initiatives to accelerate growth and achieve a position of leadership in the retail industry."
"While unseasonable weather in large areas of the country and the well-chronicled issues affecting the housing market impacted our sales for the September period, we are encouraged by the favorable response to our fall merchandise assortments in areas experiencing normal temperatures and the ongoing strength of key categories, such as fine jewelry."
"Based on our success during the recent Back-to-School season, we believe customers will continue to respond well to calendar-related or 'appointment shopping' events. For the upcoming holidays, we believe that we are well-positioned with our merchandise and promotional events to reinforce for our customers why we should be their preferred shopping choice."
-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)")
