Home a factor in JCP August sales slide
Thomas Russell -- Furniture Today, September 3, 2008
Plano, Texas – Home and jewelry were the weakest departments in a disappointing August for JCPenney; the retailer reported a 3.2% drop in sales to $1.51 billion, with comps sliding 4.9%.
Year-to-date (30 weeks) revenue of $9.92 billion is down 3.7%, with comps down 5.7%.
Looking at the five-week September retail month, 1,083-store JCP projects “mid- to high-single digit decrease in comparable store sales, compared to a 3.7% decrease during the same period last year.”
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