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JCPenney women apparel & family shoes perform well
03 Sep '08
1 min read
J. C. Penney Company Inc comparable store sales decreased 4.9 percent for the four-week period ended Aug. 30, 2008, in-line with the Company's guidance for sales to decrease mid-single digits. In last year's August reporting period, comparable store sales decreased 2.4 percent. Total Company sales in August decreased 3.2 percent.
Women's apparel and family shoes were the strongest performing merchandise divisions in August, while fine jewelry and home experienced the weakest sales during the month. The central and northwest regions were the best performing regions, with the southeast experiencing the softest sales in August.
With respect to inventory, the Company continues to expect that total inventory will be below last year's level at the end of the Back-to-School shopping season.
September Sales Outlook:
Management's guidance for the five-week period ending Oct. 4, 2008, is for a mid- to high-single digit decrease in comparable store sales, compared to a 3.7 percent decrease during the same period last year.
Women's apparel and family shoes were the strongest performing merchandise divisions in August, while fine jewelry and home experienced the weakest sales during the month. The central and northwest regions were the best performing regions, with the southeast experiencing the softest sales in August.
With respect to inventory, the Company continues to expect that total inventory will be below last year's level at the end of the Back-to-School shopping season.
September Sales Outlook:
Management's guidance for the five-week period ending Oct. 4, 2008, is for a mid- to high-single digit decrease in comparable store sales, compared to a 3.7 percent decrease during the same period last year.
J. C. Penney Company Inc
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