J. C. Penney Company, Inc. Reports November Sales Results

PLANO, Texas, Dec. 1, 2011 /PRNewswire/ -- J. C. Penney Company, Inc. (NYSE: JCP) reported today that its comparable store sales for the four-week period ended Nov. 26, 2011, decreased 2.0 percent.  This compares to a 9.2 percent increase in the same period last year. Total Company sales in November decreased 5.9 percent.

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For the month, women's and men's apparel and accessories were the top performing merchandise divisions.  Sales throughout November were ahead of the prior year heading into the holiday weekend.  However, the Company noted that its decision to respect Thanksgiving Day for families and open at 4:00 a.m. on Friday, as it had in prior years, adversely impacted Black Friday sales. Sales remained soft in-store throughout the holiday weekend.  


Preliminary November Sales Summary

($ in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Company Sales

 

% Increase/(Decrease)

 

for period ended

 

Total Sales

 

Comp Stores

 

Nov. 26,

 

Nov. 27,

 

 

 

 

 

 

 

 

 

2011

2010

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

 

 

 

 

 

4 Weeks

$      1,737

 

$      1,845

 

(5.9)

 

7.2

 

(2.0)

 

9.2

 

 

 

 

 

 

 

 

 

 

 

 

43 Weeks

$      13,573

 

$    13,900

 

(2.4)

 

1.3

 

0.8

 

2.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company specifically noted that traffic on jcp.com was strong – including traffic coming from jcpenney's mobile commerce site (m.jcp.com) – starting on Thanksgiving Day and continuing through Cyber Monday.  Overall, traffic on the site was up 12 percent to last year for the holiday weekend.  jcp.com sales from Black Friday through Cyber Monday will be shipped in the December reporting period and will be reported with the Company's December sales release.

Today's Sales Conference Call Recording (8:30 a.m. ET) -- (877) 793-7778

 

For further information, contact:

Investor Relations
Kristin Hays and Angelika Torres; (972) 431-5500
jcpinvestorrelations@jcpenney.com

Media Relations
Darcie Brossart and Rebecca Winter; (972) 431-3400
jcpcorpcomm@jcpenney.com

Corporate Website
www.jcpenney.net

 

About J. C. Penney Company, Inc.

J. C. Penney Company, Inc., one of America's leading retailers, operates over 1,100 jcpenney department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com. Serving more than half of America's families each year, the jcpenney brand offers a wide array of private, exclusive and national brands which reflect the Company's vision to be America's shopping destination for discovering great styles at compelling prices. Traded as "JCP" on the New York Stock Exchange, the $17.8 billion retailer is transforming its organization to build a sustainable, profitable enterprise that serves its customers, engages its associates and rewards its shareholders.  For more information visit, www.jcpenney.net.

 

This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which reflect the Company's current views of future events and financial performance, involve known and unknown risks and uncertainties proceedings that may cause the Company's actual results to be materially different from planned or expected results. Those risks and uncertainties include, but are not limited to, general economic conditions, including inflation, recession, unemployment levels, consumer spending patterns, credit availability and debt levels, changes in store traffic trends, the cost of goods, trade restrictions, changes in pricing strategies, changes in tariff, freight and shipping rates, changes in the cost of fuel and other energy and transportation costs, increases in wage and benefit costs, competition and retail industry consolidations, interest rate fluctuations, dollar and other currency valuations, the impact of weather conditions, risks associated with war, an act of terrorism or pandemic, and a systems failure and/or security breach that results in the theft, transfer or unauthorized disclosure of customer, employee or Company information and legal and regulatory proceedings.  Please refer to the Company's most recent Form 10-K and subsequent filings for a further discussion of risks and uncertainties. Investors should take such risks into account when making investment decisions. We do not undertake to update these forward-looking statements as of any future date.

 

SOURCE J. C. Penney Company, Inc.



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