J.C. Penney Net Sales Rise, Web Sales Soar
Also in the quarter, catalog/Internet sales increased 3.7 percent with sales for jcp.com rising 22 percent.
Year-end net sales totaled $18.78 billion, a 3.8 percent gain over the previous year. Same-store sales rose 2.8 percent for the year. Also, catalog/Internet sales increased 3.6 percent with Internet sales jumping nearly 28 percent in 2005. Net income totaled $1.09 billion, the Plano, TX, company said.
Last year, J.C. Penney launched its 2005-09 long-range plan, identifying four strategies: making an emotional connection with the customer; making J.C. Penney an easy and exciting place to shop; making the company a great place to work; and becoming a leader in performance and execution.
In support of the plan, the company started several private and exclusive brands including nicole by Nicole Miller, W -- Work to Weekend, nick(it), a.n.a., Solitude, Studio and Miss Bisou, and expanded Chris Madden for the J.C. Penney Home Collection.
The company also rolled out a new point-of-sales system last year that reduces transaction time and will provide Internet connectivity to 35,000 POS devices. More than 430 stores have converted to the new technology.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters