November 20, 2013, 12:27 PM

The web shines in a bleak Q3 at J.C. Penney

E-commerce grows 24%, while stores drop 5%.

Lead Photo

Total sales and store sales dropped for J.C. Penney in the third quarter, but shoppers returned to the retailer’s e-commerce channel.

In fact after multiple quarters of declining or modestly increasing web sales, e-commerce grew at a healthy clip for JCP.com in the quarter.

For the quarter ended Nov. 2, J.C. Penney, No. 34 in the Internet Retailer Top 500, reported:

  • E-commerce sales increased 24.3% to $266 million from $214 million in the third quarter of 2012.
  • Total sales declined year over year 4.8% to $2.78 billion from $2.92 billion.
  • Comparable-store sales declined 4.8%
  • Net loss was $489 million compared with a net loss of $123 million in the prior year.
  • The web accounted for 9.6% of all sales compared with 7.3% in the third quarter of 2012.

"Our strategies to reconnect with customers are beginning to take hold, and this became increasingly clear as the quarter progressed,” says CEO Myron Ullman.

comments powered by Disqus

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

Advertisement