J.C. Penney Same-Store Sales Jump 10.1 Percent in November
PLANO, Texas-J.C. Penney logged a gain of 10.1 percent in its November same-store sales, according to a preliminary update from the retailer issued yesterday.
The month, of course, included the all-important Thanksgiving weekend. The J.C. Penney statement added that its e-commerce sales through jcp.com ran ahead of last year and have continued their recent strength.
Based on the sales trends through the Thanksgiving weekend, the most encouraging results came from giftable items, especially among J.C. Penney's private-label brands such as Modern Bride, St. John's Bay and a.n.a., along with a range of national brands.
Myron Ullman III, J.C. Penney's CEO, said, "We are pleased with our performance over the Thanksgiving holiday weekend, particularly in light of the continued spending pressures on consumers. The traffic and conversion we saw both in stores and online this weekend was exciting for everyone across our organization. We know the environment will remain competitive as ever, and we are all working to maintain our momentum through the holiday season."