February 24, 2010, 12:00 AM

Annual web sales are flat once more for J.C. Penney Co.

Despite a boost in e-commerce revenue of 4.3% in the fourth quarter, annual web sales remained unchanged at about $1.5 billion in 2009. Total revenue and comparable-store sales for J.C. Penney decreased 5% and 6.3%, respectively.

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For the second year in a row web sales remained flat for J.C. Penney Co.

For the year ended Jan. 30, 2009, J.C. Penney, No. 15 in the Internet Retailer Top 500 Guide, reported:

  • Web sales remained essentially unchanged at about $1.5 billion for 2009 and 2008.
  • Total sales decreased 5% to $17.55 billion from $18.48 billion.
  • The web accounted for 8.5% of total sales compared with 8.1% in 2008.
  • Comparable-store sales decreased 6.3%.
  • Net income declined year over year 56.1% to $251.0 million from $572.0 million.
“Our focus for fiscal 2010 is driving top-line growth,” says J.C. Penney CEO Myron Ullman. “We intend to deliver positive comparable-store sales and market share growth as we leverage our position as a destination for affordable style.”

For the fourth quarter, J.C. Penney didn’t break out a specific number, but web sales grew year over year by 4.3%, the company says. Other fourth quarter results include:

  • Total sales decreased 4.1% to $5.55 billion from $5.79 billion.
  • Comparable-store sales decreased 4.5%.
  • Net income declined year over year 5.2% to $200.0 million from $211.0 million.

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