JCPenney (JCP) Holiday Comps Rose 3.7%

JCPenney (NYSE: JCP) provided a preliminary update on the Company's performance for the combined nine-week November and December period. The Company reported comparable store sales growth of 3.7 percent over the same period last year.

"Our highest priority over the last year has been to restore profitable sales growth at JCPenney. This holiday season was instrumental in that effort - and our teams delivered. I would like to thank our associates for their hard work, warrior spirit and commitment to delivering an exceptional customer experience every day," said Myron E. (Mike) Ullman, III, chief executive officer. "Customers clearly responded to our combination of great merchandise and compelling promotions this holiday season. We are proud of these results, and believe the work we are doing will fuel the continued growth of our business."

The Company also announced that it now expects to report fourth quarter comparable store sales at the upper end of its previous guidance range of 2 to 4 %.

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