J.C. Penney (JCP) Holiday Comps Rose 3.9%; Reaffirms adj-EBITDA, FCF Outlook
- Wall Street ends lower as investors await earnings, inflation data
- Microsoft (MSFT) announces $19.7 billion acquisition of Nuance (NUAN)
- Alibaba (BABA) Gets a Record $2.8 Billion Anti-Monopoly Fine, Shares Soar as a 'Major Overhang' is Lifted
- Tesla (TSLA) Upgraded to 'Buy' at Canaccord Genuity and PT Raised by 155%, as it 'Holds a Several-Year Lead' in EV While Storage Business Accelerates
- Dollar drops as traders prepare for inflation data
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
J. C. Penney Company, Inc. (NYSE: JCP) announced that its comparable store sales for the combined nine-week November and December period resulted in a 3.9 percent increase over the same period last year, which equates to a 7.6 percent two-year stack of comparable store sales for the same time period. The Company also reaffirmed its full-year adjusted EBITDA target of $645 million and plans to generate positive free cash flow in fiscal 2015.
"Despite unprecedented warm weather that significantly affected apparel sales across the Company, our focus on private brands, enhanced omnichannel execution and compelling gift giving selection resulted in strong holiday sales. I am especially pleased with the accelerated comp sales improvement from November to December, including record online sales for the Company during the holiday season," said Marvin R. Ellison, chief executive officer of JCPenney.
"Although we have much work to do, our strengthened omnichannel capabilities enabled our supply chain network to process millions of jcp.com orders this season, supported by 250 stores across the country that helped fulfill online orders using in-store inventory. With this level of selection, we saw more online customers take advantage of our in-store pick up option available at over 1,000 JCPenney stores nationwide. We look forward to capitalizing on this digital progress through 2016," Ellison added.
The Company will report its fourth quarter and fiscal 2015 results on Feb. 26.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: MIND Technology Inc. (MIND) Misses Q4 EPS by 22c, Revenues Miss
- Arcutis Biotherapeutics Inc. (ARQT) Begins Phase 3 Clinical Trial of Topical Roflumilast Cream (ARQ-151)
- Angi Inc. (ANGI) announces IAC (IAC) posts monthly metrics for March
Create E-mail Alert Related CategoriesCorporate News, Guidance, Hot Corp. News, Management Comments, Retail Sales
Related EntitiesTwitter, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!