J.C. Penney Sales, Profit Up for Quarter

Share this article:
J.C. Penney Company Inc., Plano, TX, reported yesterday that total retail sales in its department stores and catalog operations were $4.34 billion in the 13 weeks ended Oct. 25, a 0.8 percent increase from $4.31 billion in the comparable period ended Oct. 26, 2002.


However, the category produced a drop of 1.8 percent during the recently concluded 39-week period, from last year's $11.94 billion to $11.72 billion.


Segment operating profit for department stores and catalog in the quarter rose 21.8 percent from last year's $170 million to $207 million, but fell 2.3 percent from $349 million to $341 million in the year-to-year 39-week comparison.


Comparable department store sales increased 1.7 percent as Catalog/Internet sales were up 4.1 percent.


"Print media sales continue to strengthen, with good results from the Fall/Winter Big Book and a positive customer response to the Christmas catalog," the company said in a statement.


In other news, Abercrombie & Fitch, New Albany, OH, reported that net sales for the 13 weeks ended Nov. 1, increased 6 percent to $445 million from $419.3 million for the 13 weeks ended Nov. 2, 2002. Comparable store sales decreased 9 percent during the quarter. Net income for the quarter increased 6 percent to $50.5 million compared to net income of $47.7 million for the third quarter of fiscal 2002.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Complexity's What Marketers Got, Simplicity's What They Want

Complexity's What Marketers Got, Simplicity's What They Want

Customer insights managers want campaign management tools to remain easy to use, even as they up their games with multi-layered campaigns.

Wine.com Uncorks New Digital Marketing Opportunities

Wine.com Uncorks New Digital Marketing Opportunities

The online wine retailer's strategy incorporates different flavors and depths.

93% of Companies Are Ineffective at Cross-Channel Marketing

93% of Companies Are Ineffective at Cross-Channel Marketing ...

Companies point to a lack of resources as the most common reason for lackluster marketing integration, a study says.