JCPenney Reports 2014 Holiday Sales
Posted on January 6, 2015
JCPenney reported its 2014 holiday sales today. The retailer had a good holiday period with comparable store sales up 3.7% for the nine-week November and December period compared to this same period last year. JCPenney says it now expects to report fourth quarter comparable store sales at the upper end of its previous guidance range of 2 to 4%.JCPenney Myron E. Ullman, III, said in a statement, "Customers clearly responded to our combination of great merchandise and compelling promotions this holiday season. We are proud of these results, and believe the work we are doing will fuel the continued growth of our business."
CNN Money reports that JCPenney stocks (JCP) are up 16% in after-hours trading but cautions that even if JCP starts trading at this improved level tomorrow they will still be down by about 33% since mid-September 2014. Even so the holiday boost is great news for JCP shareholders.