USA based nationwide online retailer J. C. Penney Company Inc announced the comparable department store sales increased 3.5 percent for the four weeks ended May 28, 2005. Sales reflected a continuation of recent trends and an improvement over previous guidance. Inventory levels remain well balanced and on plan. Direct (catalog/Internet) sales increased 7.8 percent, in line with previous guidance.
The Internet component of sales continued to achieve strong growth, increasing approximately 35 percent for the month. In last year's May period, comparable department store sales increased 9.1 percent, Direct (catalog/Internet) sales were flat, and Internet sales increased 35 percent.
For the month of June, the company expects comparable department store sales to be up low-single digits and Direct (catalog/Internet) sales to be up low- to mid-single digits. In last year's June period, comparable department store sales increased 4.8 percent and Direct (catalog/Internet) sales declined 3.4 percent.
Capital Structure Repositioning Update Year-to-date, the company repurchased approximately 11 million shares of common stock for about $522 million. The company has completed approximately 66 percent of its share repurchase program and expects to repurchase the remaining $1.3 billion of common stock under the current authorization by the end of 2005. Additionally, the company has repurchased $209 million of debt in open market transactions year-to-date, and expects to complete the remaining $41 million of planned debt repurchases in the second quarter.
20240620103915.png)
-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)")
