J. C. Penney Company, Inc. reported that its comparable store sales for the four-week period ended April 30, 2011, increased 6.4 percent over last year.  Women’s and children’s apparel reported the strongest results in April, followed by men’s apparel. 

The company’s results were driven by the continued success of its growth initiatives, including Liz Claiborne, Claiborne, and Call it Spring by The ALDO Group, as well as the value offered through jcpenney’s private brands such as Worthington, Arizona and St. John’s Bay.    

Geographically, the southeast was the top performing region of the country.  Throughout the month, sales and traffic in several regions were impacted by unseasonable and adverse weather trends.  

As anticipated, total company sales were approximately 300 basis points below comparable store sales, and increased 3.4 percent for the month.

Preliminary April Sales Summary

($ in millions)














Total Company Sales

% Increase/(Decrease)

for period ended

Total Sales

Comp Stores



Apr. 30,

May 01,









2011

2010

2011

2010

  2011

2010













4 Weeks

 $      1,261

$      1,219

3.4


(3.7)

6.4  

(3.3)













13 Weeks

 $      3,943

$      3,929

0.4  

1.2

3.8


1.3




































First Quarter Earnings Outlook

Due to the Company’s overall performance during the quarter, management now expects first quarter earnings to be approximately $0.24 per share, including previously announced non-comparable items.  (This also includes $0.01 per share of restructuring charges related to the initial phase of the streamlining of the Company’s supply chain operations, offset by a $0.01 per share benefit from the Company’s share repurchase program commenced in March 2011.)  The Company had previously expected earnings to be in the range of $0.18 to $0.23 per share.