Dive Summary:
- J.C. Penney announced that same-store sales for the retailer rose in October – the first same-store sales increase for the company in almost two full years.
- Following a 4% decline in same-store sales during September, J.C. Penney locations that were open longer than one year experienced a sales increase of 0.9% during the month of October.
- J.C. Penney also said sales through its online marketplace JCP.com increased 38% from the same period in 2012.
Dive Insight:
The embattled department store chain has been striving to regain profitability after the tumultuous Ron Johnson era and the $1 billion loss in sales during the first year of Johnson’s tenure. "JCPenney has made significant progress in addressing the challenges it faces, and we believe the company is on the right track to return to long-term profitable growth," said current JCP chief executive, Myron Ullman. October’s positive sales figures could signify the retailer is finally making progress on a turnaround.
