J. C. Penney Company, Inc. said Tuesday that its Web site, said its e-commerce site has earned more than $1 billion in annual sales. The Web site, jcpenney.com, officially achieved the mark on Jan. 13.
“We recognized early on that e-commerce would be an important part of our business and focused on creating an exceptional shopping venue while capitalizing on our comprehensive fulfillment capabilities,” said Myron E. (Mike) Ullman III, J. C. Penney chairman and chief executive officer. “As we acknowledge this achievement, we believe the Internet continues to provide a significant growth opportunity and look forward to maximizing jcpenney.com’s full potential as an integral part of our long-range plan.”
The Web site was launched in 1994. Since then, jcpenney.com has experienced sales gains of 30 percent to 50 percent per year.
Additionally, JCPenney was a pioneer in integrating its Web site with its department store and catalog channels into the concept known as “multi-channel” shopping, now an important part of the company’s business strategy.
“The multi-channel approach is a powerful model that has driven strong growth for the online business and opened the door to many new ways of reaching and serving our customers,” said John Irvin, president of JCPenney Direct. “We provide easy and seamless shopping with our combination of stores, printed catalogs, and jcpenney.com.”