J. C. Penney comparable store sales decreased 6.6% for the four weeks ended May 2, 2009, better than the companys guidance for sales to decrease 9% to 12% and compared to a 1.7% decrease last year. Total sales in April decreased 5.0%.
Sales during the month benefited from the shift of Easter into the April reporting period this year, partially offset by the loss of one selling day. The top performing merchandise divisions during the month were womens and childrens apparel, reflecting a strong customer response to the companys spring apparel offerings. Fine jewelry experienced the weakest sales during the month. Geographically, the best performing region of the country was the southwest while the central region experienced the weakest results.
Preliminary April Sales Summary | |||||||||||||||||||||
($ in millions) | |||||||||||||||||||||
Total Company Sales | % Increase/(Decrease) | ||||||||||||||||||||
for period ended | Total Sales | Comp Stores | |||||||||||||||||||
May 2, | May 3, | ||||||||||||||||||||
2009 | 2008 | 2009 | 2008 | 2009 | 2008 | ||||||||||||||||
4 Weeks | $ | 1,266 | $ | 1,333 | (5.0 | ) | 0.9 | (6.6 | ) | (1.7 | ) | ||||||||||
13 Weeks | $ | 3,884 | $ | 4,127 | (5.9 | ) | (5.1 | ) | (7.5 | ) | (7.4 | ) | |||||||||