J C Penney Soars 20% Following Same-Store Sales Growth Report
J C Penney Company Inc (NYSE: JCP) provided a preliminary update Tuesday 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.
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 percent.
J C Penney recently traded at $7.81 in the after-hours session, up 19 percent.
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