Tags: Penney | sales | online | apparel

J.C. Penney Says November Same-Store Sales Rose 10 Percent

Tuesday, 03 Dec 2013 04:47 PM

J.C. Penney Co. said sales at stores open at least a year rose 10 percent in November as Chief Executive Officer Mike Ullman works to undo his predecessor’s failed transformation of the department-store chain.

E-commerce sales also ran “well ahead of last year,” the Plano, Texas-based company said today in a statement, without providing a specific figure.

Ullman, who reclaimed the chief executive officer job after Ron Johnson was ousted in April, has reinstated sales events, revived popular private-label brands such as St. John’s Bay and tried to clear out slow-selling merchandise from home sections. He also raised cash through borrowings and a share offering to shore up the retailer’s balance sheet.

J.C. Penney rose 4 percent to $10.51 at 4:09 p.m. in New York. The shares dropped 49 percent this year through the close of regular trading compared with a 26 percent gain for the Standard & Poor’s 500 Index.

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J.C. Penney Co. said sales at stores open at least a year rose 10 percent in November as Chief Executive Officer Mike Ullman works to undo his predecessor's failed transformation of the department-store chain.
Penney,sales,online,apparel
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2013-47-03
Tuesday, 03 Dec 2013 04:47 PM
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