J. C. Penney Company, Inc. comparable store sales increased 5.4% for the five-week period ended April 3, 2010. In last years March period, comparable store sales decreased 7.2%. Total Company sales in March increased 5.0%.
March results reflect strong sales in all apparel categories with childrens apparel the best performing division during the period. The home division experienced the weakest sales results. Geographically, the southeast region was the best performing region in March, while the northwest region had the softest sales during the month.
Preliminary March Sales Summary
($ in millions)
Total Company Sales % Increase/(Decrease)
for period ended Total Sales Comp Stores
Apr. 03, Apr. 04,
2010 2009 2010 2009 2010 2009
5 Weeks $ 1,528 $ 1,455 5.0 (5.4 ) 5.4 (7.2 )
9 Weeks $ 2,710 $ 2,620 3.4 (6.2 ) 3.5 (7.9 )
Updated First Quarter Sales and Earnings Outlook
Based primarily on better than expected sales performance during the February and March periods, management is raising its guidance for first quarter sales and earnings.
First quarter sales: Management now expects comparable store sales to increase approximately 2% compared to original guidance of flat to slightly positive. Total sales are also expected to increase approximately 2%.
