J.C. Penney Shows Signs of Life During the Holidays [Fortune]
JC PENNEY (JCP)
Last jc penney earnings: 2/27 07:30 am
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Source: Fortune
J.C. Penney (jcp) looks like it’s winning back some customers. The department store chain reported on Thursday that comparable sales in November and December , the most important time of year for the retailer, rose 3.4%, well above Wall Street forecasts and a dramatic improvement over its 2016 holiday season performance, when business declined. Penney cited home goods, beauty items, and jewelry as key factors in the improvement. More crucially, apparel sales improved, a promising sign a few months after Penney had to take a hit to profits from massive markdowns on women’s clothing that was a big flop with shoppers. The company, whose shares fell to record lows last year on concerns it was falling to grow despite its many initiatives, has invested in improving its e-commerce, from its app to stores’ ability to assist in e-commerce order shipping. It has sought to reduce its reliance on apparel, a declining category across retail, by shifting some of its business to larg
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