Q4, year-end results mixed for JC Penney, Brookstone, OfficeMax

Share this content:

It was a mixed bag of sales and income results yesterday for several multichannel retailers.

J.C. Penney Company Inc. reported sales for the fourth quarter ended Feb. 3 totaled $6.664 billion, up 7.4 percent from last year. Comparable-store sales increased 2.2 percent during the same period.

The Plano, TX-based retailer also said direct sales decreased 1.2 percent during the fourth quarter, while Internet sales through www.jcp.com increased 17.6 percent.

The company's fourth quarter net income totaled $477 million, down 13.4 percent from last year. Earnings per diluted share were $2.09, down 10.7 percent from last year's $2.34.

For the year, J.C. Penney's net sales totaled $19.903 billion, up 6 percent from the previous year. Comparable-store sales rose 3.7 percent during the same period while direct sales increased 2.4 percent and Internet sales rose 22.1 percent.

The company's net income for the year totaled $1.153 billion, up 6 percent from the previous year. Earnings per diluted share were $4.96, up 16.4 percent from last year.

Brookstone Inc., Merrimack, NH, posted a 13.3 percent increase in sales for the fourth quarter ended Dec. 30, 2006, for a total of $256 million. Same-store sales rose 6.7 percent during the same period.

For the 52-week period ended Dec. 30, Brookstone reported net sales totaled $512 million, a 9.3 percent gain over last year. Same-store sales increased 1.8 percent during the same period.

The merchant's income from operations was $30.6 million compared to $15.4 million reported by the previous owner's of Brookstone for the 48-week period ended Dec. 31, 2005.

OfficeMax Inc., Naperville, IL, reported that net income for the fourth quarter ended Dec. 30 increased to $58 million, or $0.76 per diluted share, compared with a net loss of $43.1 million, or a loss of $0.62 per diluted share, in the fourth quarter of 2005. Net income for the year full year increased to $91.7 million, or $1.19 per diluted share, compared with a net loss of $73.8 million, or $0.99 per diluted share, reported in the previous year.

On a per-segment basis, sales in the OfficeMax contract segment decreased 3.5 percent in the fourth quarter but increased 1.9 percent for the full year.

The office supply merchant's retail segment posted a 13 percent decrease in sales for the fourth quarter of 2006 and a 6 percent decrease for the year. Same-store sales decreased 0.4 percent in the fourth quarter and increased 0.1 percent for the year.

The drop in sales was due to store closings, the effect of one less week compared to the previous year and a new initiative to eliminate mail-in rebates and provide instant rebates instead, OfficeMax said.

close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above