The Top 500 apparel chain plans to expand its reserve online, pick up in store program, as well as its presence in China.
Web sales rise modestly for Penney in Q2
Web sales in the second quarter were up 4%, J.C. Penney Co. reports.
For the first time J.C. Penney Co. is breaking out dollar figures for quarterly e-commerce sales, and the numbers for the second quarter show only a modest gain.
For the quarter ended July 31, J.C. Penney, No. 16 in the Internet Retailer Top 500 Guide, reported:
• Web sales in the second quarter increased about 4% to $317 million from $305.1 million in the second quarter of 2009.
• Total sales decreased 0.1% to $3.938 billion from $3.943 billion in the second quarter of 2009.
• Comparable-store sales increased 0.9%.
• Net income was $14 million compared with a loss of $1 million in the second quarter of 2009.
Internet Retailer calculates the Internet accounted for 8% of total sales in the quarter compared with 7.7% in the prior year.
J.C. Penney didn’t break out year-to-date web sales, but for the first six months did report:
• Total sales increased 0.5% to $7.867 billion from $7.827 billion in the prior year.
• Net income increased year over year 208.3% to $74 million from $24 million.
• Comparable-store sales increased 1.3%.
J.C. Penney continues to make the web into an even bigger sales channel. The retailer will use an aggressive mix of new e-commerce technology and other tactics to generate $1 billion in new Internet revenue over the next four to five years, J.C. Penney told Wall Street analysts in June.