J.C. Penney’s Jewelry Sales Up, Comps Down

J.C. Penney announced negative comps for the first quarter of 2017 (ended April 29), although it singled out jewelry as a top-performing category.

“Home, Sephora, fine jewelry, and salon all comped positively, and were the Company’s top performing divisions during the quarter,” the company said in a statement.

The department store’s overall comps fell 3.5 percent for the quarter. Total sales equaled $2.7 billion, down from $2.8 billion last year. The company posted a $180 million loss for the quarter.

Yesterday, Macy’s also reported that comps fell in the first quarter, although its CEO pronounced himself “encouraged” by a fine jewelry pilot project.

(Image courtesy of J.C. Penney)

JCK News Director