J C Penney Company Inc (NYSE:JCP) Updates On Holiday Sales Performance


J C Penney Company Inc (NYSE:JCP) reported that its comparable store sales for the nine-week period closing December 30, 2017 jumped 3.4 % over the comparable period last year. The firm also reaffirmed all elements of its latest full-year financial guidance for FY2017.

The buzz

Marvin R. Ellison, the CEO and Chairman of J C Penney, reported that they are extremely thrilled with their overall comp sales performance in the holiday season. It was led by beauty, fine jewelry and home sales. In addition, their apparel segments continue to showcase improved comp performance, especially in women and kids.

They are also delighted by their e-commerce business that remains to surpass prior year results with sales growth coming in double-digit, largely led by sought-after gifting segments such as fine jewelry, luggage and home decor, boots, athletic footwear and toys. Their ability to follow e-commerce fulfillment from entirely of their brick and mortar outlets helped boost the growth in e-commerce platform for the holiday season. They remain assure that their strategic plans are taking hold and echoing with customers.

The CEO of J C Penny expressed that as they close FY2017, they stay committed to managing the business for growth, while offering their consumers increased reasons to shop and enjoy everything company has to offer. They look forward to revealing more details about their Q4 2017 performance and full year performance as well as their FY2018 expectations during their earnings call on March 2, 2018.

In the last trading session, the stock price of J C Penny gained more than 1% to close the day at $3.93. The gains came at a share volume of 8.32 million compared to average share volume of 17.44 million. Post the recent decline, the market cap of firm was noted at $1.2 billion. So far in this month, the stock has posted gains of more than 24%.

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