PLANO, Texas–J.C. Penney posted top- and bottom-line declines, with hard home among the weakest categories, Myron Ullman, chairman and chief executive officer, said during a conference call.
Hard home is one of the categories that has been hit hard by the tough economy and “housing challenge,” he said.
For the second quarter ended Aug. 2, net income decreased 35.7 percent, to $ 117 million.
During the second quarter, total sales decreased 2.5 percent. Comparable-store sales decreased 4.3 percent.
Despite the macroeconomic picture, Ullman stressed that J.C. Penney continues to invest in the business.
It’s rolling out Sephora beauty shops to more stores, and upgrading the shopping experience with more way finding signs and price scanners, for example.
What’s more, the retailer is still opening stores, although at a scaled-back rate, he said.