The retailer’s latest designer line sold out soon after the products went live, and few if any of the 250 items are in stock ...
Online sales continue to outshine store sales at the big retail chain, where second quarter web sales rose 4% year over year while total sales dipped 0.1%.
Breaking out quarterly web sales for the first time, J.C. Penney Co. Inc. showed a modest year-over-year gain for the second quarter ended July 31: Web sales rose about 4% to $317 million from $305 million.
Though a modest gain, it's understandable why J.C. Penney might want to start reporting quarterly web sales separately. While web sales rose, total Q2 sales dipped 0.1% year-over-year to $3.938 billion from $3.943 billion, and same-store sales fared only slightly better, rising 0.9%. Same-store sales are for stores open at least a year.
Internet Retailer calculates the Internet accounted for 8.0% of total sales in the quarter compared with 7.7% in the same quarter last year.
The retailer, the 16th largest in terms of 2009 web sales as ranked in the Internet Retailer Top 500 Guide, reported Q2 net income of $14 million, compared to a loss of $1 million in the year-ago quarter.
J.C. Penney didn't report web sales for the first half, when total sales rose 0.5% year over year to $7.867 billion, as net income tripled to $74 million and same-store sales rose 1.3%.