JC Penney preliminary Q4 store sales rise 3.1 percent

REPORT_ JC Penney has provided a preliminary update on its sales

performance during the holiday and fiscal fourth quarter periods. For the combined, nine-week November and December period, the company reported comparable store sales growth of 3.1 percent over the same period last year.

For the full quarter, comparable store sales - which exclude the 53rd week of fiscal 2012 - rose approximately 2.0 percent. For the fourth quarter, jcp.com sales grew approximately 26.3 percent over last year. In addition, the company closed its 2013 fiscal year with total available liquidity in excess of 2 billion dollars.

“While 2013 brought a lot of change and challenges to JC Penney, the steady improvements in our business show that the company's turnaround is on track. In spite of the significant headwinds facing all retailers this season, including unprecedented harsh weather conditions in many parts of the country, we delivered on our promise to generate positive comparable store sales growth in the fourth quarter,” said Myron E. (Mike) Ullman, III, Chief Executive Officer of Plano, Texas-based JC Penney.

For the holiday period, the company reported positive performance in several categories including, beauty (Sephora), active wear, sweaters, outerwear, dresses, boots, men's clothing, luggage and housewares. The company will announce its fourth quarter and full year 2013 results on Wednesday, February 26, 2014.