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Friday, February 25, 2005 |
J.C. Penney’s web sales rise 33% in the fourth quarter
Web-based sales at J.C. Penney Co. Inc. increased 33% in the fourth quarter over the same quarter a year ago and are the fastest growing sales among J.C. Penney’s channels, the company reported this week. J.C. Penney does not report dollar amounts for web-based sales, but Guide to the Top 300 Online Retailers reported web sales of $601 million in 2003 for J.C. Penney.
Total sales for J.C. Penney were down 0.4% in the quarter to $6.07 billion from $6.1 billion. The company earned $333 million in the quarter vs. a loss of $1.07 billion a year earlier. Catalog and Internet sales combined were up 3.9% for the quarter, excluding the effects of last year’s extra week in the quarter. Comparable department store sales were up 3% in the quarter.
For the full year, total sales were up 3.6% to $18.4 billion from $17.8 billion in 2003. Excluding the effects of the extra week, catalog and Internet sales were up 3.3%. Comparable department store sales were up 5%. For the year, J.C. Penney earned $524 million vs. a loss of $928 million a year ago.
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