J. C. Penney Company, Inc. reported that comparable store
sales for the four-week period ended Nov. 28, 2009, decreased 5.9%, in-line with the company’s guidance for sales to decrease 4% to
7%. In last year’s November period, comparable store sales
decreased 11.9 percent. Total company sales in November decreased 5.2%.
Strong sales for the Black Friday weekend offset slightly weaker sales
beginning mid-month and leading up to Thanksgiving. Customers responded
well to JCPenney’s gift assortment, which offers stylish and quality
gifts at affordable prices that make sense for the budgets of America’s
families. In addition, holiday Internet sales through jcp.com achieved a
high-teen increase for the post-Thanksgiving period, including
Cyber-Monday. However, Internet sales that occurred after Thanksgiving
will be recorded upon shipment of the merchandise and will be reflected
in the Company’s December sales results.
For the November period, women’s apparel, accessories and shoes were the
top performing merchandise divisions, while children’s experienced the
weakest sales. The southwest region was the best performing region in
November, and the southeast region had the softest sales during the
month.
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Preliminary November Sales Summary |
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($ in millions) |
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Total Company Sales |
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% Increase/(Decrease) |
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for period ended |
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Total Sales |
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Comp Stores |
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Nov. 28, |
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Nov. 29, |
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2009 |
2008 |
2009 |
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2008 |
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2009 |
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2008 |
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4 Weeks |
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$ |
1,721 |
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$ |
1,815 |
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(5.2 |
) |
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(11.5 |
) |
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(5.9 |
) |
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(11.9 |
) |
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43 Weeks |
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$ |
13,727 |
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$ |
14,541 |
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(5.6 |
) |
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(6.3 |
) |
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(7.0 |
) |
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(7.9 |
) |
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