JC Penney reports 3.7 percent rise in holiday season sales

JC Penney Company in its preliminary update for the combined nine-week November and December period has reported comparable store sales growth of 3.7 percent over the same period last year.

“Our highest priority over the last year has been to restore profitable sales growth at JC Penney. This holiday season was instrumental in that effort - and our teams delivered,” said Myron E. (Mike) Ullman, III, Chief Executive Officer.

The company also announced that it now expects to report fourth quarter comparable store sales at the upper end of its previous guidance range of 2 to 4 percent.