J.C. Penney Co.'s (JCP) January comparable-store sales, or sales of stores open at least a year, fell 1.9%, compared with a year earlier increase of 3.6%. The Plano, Texas, retailer said January total department store sales rose 1.7%, while direct sales increased 3.6%.
J.C. Penney projects February comparable-store sales to be flat, with comparable-department store sales decreasing in the low single digits on a percentage basis. J.C. Penney will include Internet sales in its comparable-store sales results starting in the 2008 fiscal year ending Jan. 31. The company now projects fiscal fourth-quarter earnings at the high end of its original guidance range of $1.65 to $1.80.
The stock is up 3.28 to $47.00 this morning. It is down from a high of $87 hit last February.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment