J.C. Penney “Pleased” with Holiday Performance

JCPenney_2014_ClassicPLANO, Texas-In a statement released yesterday, J.C. Penney declared itself “pleased with its performance for the holiday period.”

The statement did not include actual sales data for the period, but said the holiday results showed “continued progress in (the company’s) turnaround efforts. Customers responded well to the company’s offerings this holiday shopping season, both in store and online.”

The statement added that J.C. Penney has reaffirmed its outlook for the fourth quarter as a whole, which it set out in its financial release for the third quarter, released in November. In that release, the company said same-store sales and gross margin would improve sequentially year over year, and that selling, general and administrative expenses would finish the quarter below last year’s levels.

Posted in News, Retail.

Last updated: January 10, 2014