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J.C. Penney Same-Store Sales Rise 3.9 Percent in November-December

J.C. Penney Co Inc's same-store sales rose 3.9 percent in November and December due to strong demand for its private-label offerings and gift products and higher online sales.
Source: Reuters
By
  • Reuters

NEW YORK, United States — J.C. Penney Co Inc's same-store sales rose 3.9 percent in November and December due to strong demand for its private-label offerings and gift products and higher online sales.

The company's results were in stark contrast to those of rival Macy's Inc, which reported a 4.7 percent fall in holiday season same-store sales on Wednesday and said it would cut jobs and shut stores.

J.C. Penney also reaffirmed its full-year adjusted earnings target of $645 million before taxes on Thursday and the company said it planned to generate positive free cash flow in fiscal 2015.

By Siddharth Cavale; editor: Kirti Pandey.

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