J. C. Penney Sales Rise - Analyst Blog

J. C. Penney Company Inc. (JCP), a leading retailer of apparel, footwear, accessories, fashion jewelry, beauty products, and home furnishings, recently reported its sales results for the four-week period ended August 28, 2010.

 

The company’s comparable-store sales for August 2010 climbed 2.3%, reflecting a sharp improvement from a decline of 0.6% and a fall of 7.9%, witnessed in July 2010 and August 2009, respectively. Year-to-date comparable-store sales edged up 1.4% compared with a decline of 8.4% experienced in the same period last year.

 

Total sales also portrayed an improvement. After tumbling 2.8% in July 2010, total sales for August grew marginally by 0.8% to $1,439 million from $1,428 million in the same month last year. Year-to-date total sales inched up 0.6% to $9,306 million from $9,255 million in the same period last year. Geographically, the southeast and southwest regions were the top performing regions.
 
The Plano, Texas-based retailer, J. C. Penney, notified that apparel remains the strongest category among the men’s and children’s sections. The company’s exclusive kids’ brands, Uproar and Supergirl by Nastia, remained strong. Sales also remained healthy in back-to-school categories such as tops, back packs and denim in junior’s and young men's.
 
J. C. Penney also indicated that Liz Claiborne merchandise had performed well. The company hinted that sales recorded in its fast fashion brand MNG by Mango, which is now available in 77 stores, were robust.