J.C. Penney's Q2 Earnings Jump
J. C. Penney Company Inc.'s second quarter net sales totaled $4.238 billion, a 6.5 percent increase over last year. Comparable store sales increased 6.6 percent during the same period.
The Plano, TX-based multichannel merchant also said direct sales increased 2.7 percent during the quarter and sales from its e-commerce Web site, www.jcp.com, increased approximately 25 percent.
Second quarter earnings per share from continuing operations increased 63 percent to $0.75 from $0.46 last year. Operating profit increased 27.2 percent to $271 million.
The report also stated that the company completed the rollout of its POS system during the second quarter, providing access to the company's Web site at all registers.