|JCPenney Reports December Sales|
The December period was extraordinarily promotional across the retail industry. Over the course of the month, the Company took aggressive promotional pricing action across all channels, which resulted in improved sales during the week leading up to Christmas and for the remainder of the month. This served to partially offset weaker performance earlier in the period. Comparable store sales results for December also benefited from an increase in sales through jcp.com, the Company's Internet channel.
For the December period, women's apparel and accessories and family shoes were the top performing merchandise divisions, while fine jewelry continued to experience softer sales performance. Geographically, the best performing areas of the country were the southwest and central regions, while the northwest region had the weakest results.
Preliminary December Sales Summary ($ in millions) Total Company Sales % Increase/(Decrease) for period ended Total Sales Comp Stores Jan. 3, Jan. 5, 2009 2008 2008 2007 2008 2007 5 Weeks $ 2,961 $ 3,177 (6.8 ) (5.6 ) (8.1 ) (7.3 ) 9 Weeks $ 4,776 $ 5,227 (8.6 ) (0.8 ) (9.6 ) (2.8 ) 48 Weeks $ 17,503 $ 18,697 (6.4 ) 1.0 (8.0 ) 0.0
January Sales Guidance
Management's guidance for the four-week period ending
Sales Conference Call Recording (
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which reflect the Company's current views of future events and financial performance, involve known and unknown risks and uncertainties that may cause the Company's actual results to be materially different from planned or expected results. Those risks and uncertainties include, but are not limited to, general economic conditions, including inflation, recession, unemployment levels, consumer spending patterns, credit availability and debt levels, the cost of goods, trade restrictions, changes in tariff, freight, paper and postal rates, changes in the cost of fuel and other energy and transportation costs, competition and retail industry consolidations, interest rate fluctuations, dollar and other currency valuations, risks associated with war, an act of terrorism or pandemic, and a systems failure and/or security breach that results in the theft, transfer or unauthorized disclosure of customer, employee or Company information. Please refer to the Company's most recent Form 10-K and subsequent filings for a further discussion of risks and uncertainties. Investors should take such risks into account when making investment decisions. We do not undertake to update these forward-looking statements as of any future date.
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