September 1, 2010, 12:00 AM

At J.C. Penney, Q2 web sales rise as total sales fall

Online sales continue to outshine store sales at the big retail chain, where second quarter web sales rose 4% year over year while total sales dipped 0.1%.

Breaking out quarterly web sales for the first time, J.C. Penney Co. Inc. showed a modest year-over-year gain for the second quarter ended July 31: Web sales rose about 4% to $317 million from $305 million.

Though a modest gain, it's understandable why J.C. Penney might want to start reporting quarterly web sales separately. While web sales rose, total Q2 sales dipped 0.1% year-over-year to $3.938 billion from $3.943 billion, and same-store sales fared only slightly better, rising 0.9%. Same-store sales are for stores open at least a year.

Internet Retailer calculates the Internet accounted for 8.0% of total sales in the quarter compared with 7.7% in the same quarter last year.

The retailer, the 16th largest in terms of 2009 web sales as ranked in the Internet Retailer Top 500 Guide, reported Q2 net income of $14 million, compared to a loss of $1 million in the year-ago quarter.

J.C. Penney didn't report web sales for the first half, when total sales rose 0.5% year over year to $7.867 billion, as net income tripled to $74 million and same-store sales rose 1.3%.

mark@verticalwebmedia.com

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Bill Siwicki / Mobile Commerce

Want to be honored as one of the world’s best mobile retailers?

Mark Tuesday Nov. 4 on your calendar to attend a live-streaming event on tips for ...

FPO

Timothy Seward / E-Commerce

Amazon: relating to the behemoth

Learn what you can from Amazon, but don’t hand Jeff Bezos the keys to your ...

Advertisement