Printer Friendly

JCPENNEY STORE SALES REFLECT PROMOTIONAL SHIFT; CATALOG VOLUME RISES SHARPLY IN JULY

 PLANO, Texas, Aug. 5 /PRNewswire/ -- Sales of JCPenney (NYSE: JCP) stores for the four weeks ended July 31, 1993, decreased 2.6 percent to $847 million from $870 million in the 1992 period. On a comparable store basis, that is stores open at least a year, sales declined 3.1 percent. Sales of women's and men's merchandise continued to exceed last year's levels, with misses' sportswear business significantly higher. For the children's and home divisions, sales were adversely impacted by the move of promotional events from July in 1992 to the August period this year.
 Catalog volume was sharply higher in July, rising 22.0 percent to $226 million. Total company sales amounted to $1.17 billion, a gain of 1.8 percent over the comparable period in 1992.
 Commenting on July business, chairman of the board William R. Howell said that catalog's outstanding performance reflected double digit sales increases in all merchandise divisions. He noted that the 1388-page Fall/Winter catalog, which was distributed in mid-June, was generating very strong demand, with women's merchandise showing the largest percentage sales gain.
 For the 13 weeks ended July 31, 1993, sales of JCPenney stores were up 3.2 percent to $2,914 million from $2,824 million for the same period a year earlier. On a comparable store basis, sales increased 2.6 percent. For the company's fiscal 26 weeks, sales of JCPenney stores rose 4.3 percent to $5,839 million from $5,596 million in 1992. On a comparable store basis, sales increased 3.7 percent.
 JCPENNEY
 Sales Summary
 (Dollars in millions)
 Percent
 Period ended Increase (Decrease)
 July 31, Aug. 1, All Comparative
 1993 1992 Units Units
 4 weeks
 JCPenney stores $ 847 $ 870 (2.6) (3.1)
 Catalog 226 185 22.0
 Drug stores 100 97 3.0 5.2
 Total Company $1,173 $1,152 1.8
 Percent
 Period ended Increase (Decrease)
 July 31, July 25, All Comparative
 1993 1992 Units Units
 13 weeks
 JCPenney stores $2,914 $2,824 3.2 2.6
 Catalog 709 642 10.5
 Drug stores 340 323 5.1 5.3
 Total Company $3,963 $3,789 4.6
 26 weeks
 JCPenney stores $5,839 $5,596 4.3 3.7
 Catalog 1,401 1,337 4.8
 Drug stores 687 649 5.8 5.7
 Total Company $7,927 $7,582 4.6
 -0- 8/5/93
 /CONTACT: Harvey McCormick of JCPenney, 214-431-1333/
 (JCP)


CO: J. C. Penney Company, Inc. ST: Texas IN: REA SU:

SM -- NY025 -- 9758 08/05/93 09:39 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 5, 1993
Words:423
Previous Article:SEARS JULY REVENUES RISE 17.5 PERCENT
Next Article:STONE ENERGY CORPORATION ANNOUNCES UNDERWRITERS EXERCISE OVER-ALLOTMENT OPTION
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters