JCPenney.com sales on track to hit $1 billion this year
JCPenney.com is on track to end this year with more than $1 billion in sales, says Ken C Hick, president and chief merchandising officer of J.C. Penney Co. Inc. Internet sales grew 32% to $800 million in 2004.
While direct sales—which includes both catalog and Internet sales—decreased 0.9% during the third quarter, Internet sales increased more than 25% for both the quarter and year-to-date, Hicks said during the retailer’s third-quarter earnings conference call.
“We are very proud of our online business,” he said, noting that J.C. Penney is aggressively working to expand the web site’s customer base.
In-store access to JCPenney.com will be included in a $250 million point-of-sale system being rolled out this year and in 2006. That system is expected to be in about half of J.C. Penney’s 1,017 stores by the opening of the school year next fall, Hicks said.
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