J. C. Penney Company, Inc. reported that comparable department store sales increased 4.7 percent for the five weeks ended December 28, 2002, compared with last year’s strong 5.4 percent gain.
The Company was pleased with its above plan sales performance, beginning with a strong Thanksgiving and continuing through Christmas week. All merchandise divisions had positive comparable store sales increases, with particular strength in Children’s, Fine Jewelry and Home. On a combined basis, November and December comparable store sales increased 3.0 percent.
Catalog sales decreased 23.7 percent, in line with expectations. E-commerce sales, which are included in catalog continue to perform well, and increased about 20 percent for the November and December holiday season.
