JC Penney October same store sales up 0.9 percent

REPORT_ JC Penney same store sales increased 0.9 percent

in October, marking a 490 basis point increase over September. The company attributes its improved sales trends to the restoration of inventory levels in key private brands. The company also continues to make strides in the remerchandising and reconfiguration of its home department. Sales of home merchandise online were up over 50 percent from last year.

JC Penney is based in Texas. It is one of America’s largest apparel and home furnishing retailers. “JC Penney has made significant progress in addressing the challenges it faces, and we believe the company is on the right track to return to long-term profitable growth,” said Myron Ullman, III, Chief Executive Officer of JC Penney. “We are proud of our October sales improvement, which we achieved despite the federal government shutdown and a challenging consumer environment. Not only did we deliver positive same store sales for the first time since December 2011, we also saw significantly improved sales trends in home and men's apparel as well as women’s accessories.”