Web brings Penney more dollars, while catalog and same-store sales slump
J.C. Penney Company Inc. says Internet sales were up 10% in June compared with the same month a year ago. The company noted the increase came on top of 27% growth in June 2006 over the prior year.
The web growth was one of few bright spots in Penney’s report for the five-week period that ended July 7. While total department store sales went up 1.4% for the period to $1.4 billion, comparable store sales declined 1.5%. And direct-to-consumer sales overall declined 10.9%, which the company attributed to weakness in higher-ticket home products and in catalog sales.
J.C. Penney is No. 12 in the Internet Retailer Top 500 Guide.
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