J.C. Penney’s November Comps Increase 10%

Beleaguered J.C. Penney announced some much-needed good news on Dec. 3, revealing its November same-store sales jumped 10.1 percent.

E-commerce sales continue to be strong, the company added.

“We are pleased with our performance over the Thanksgiving holiday weekend, particularly in light of the continued spending pressures on consumers,” Penney CEO Myron E. (Mike) Ullman said in a statement. “We know the environment will remain as competitive as ever, and we are all working to maintain our momentum through the holiday season.”

Even so, the company still has a way to go to make up the ground lost by former CEO Ron Johnson, under whom fourth quarter comps dropped 31.7 percent.

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JCK News Director