JC Penney September sales slightly down
The company's comparable department store sales decreased 4.6% and total direct sales decreased 8.5%, below the management's most recent guidance for a low-single digit sales increase for both. Internet sales through www.jcp.com increased 6.4% for the month, on top of a 36% increase last year. Myron Ullman III, chairman and CEO of JC Penney said: "JC Penney continues to execute its long-range plan initiatives to accelerate growth and achieve a position of leadership in the retail industry. "While unseasonable weather in large areas of the country and the well-chronicled issues affecting the housing market impacted our sales for the September period, we are encouraged by the favorable response to our fall merchandise assortments in areas experiencing normal temperatures and the ongoing strength of key categories, such as fine jewelry."