J.C. Penney Store Sales Flat, but Online Booms Feb 12, 2003

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E-commerce sales marked the brightest spot for J.C. Penney Co. Inc. during the fourth quarter, rising 21.4 percent, while catalog sales dived and same-store sales rose only slightly, the retailer reports. J.C. Penney’s online sales for the fiscal year ended Jan. 31 reached U.S. $381 million, up 17.8 percent from a year ago.

By comparison, Q4 direct sales decreased 20.7 percent, to $772 million from $973 million. The retailer said overall direct sales decreased 22 percent for the year ended Jan. 31, to $2.6 billion from $3.3 billion.

It said Q4 same-store sales grew 1.9 percent over the year-ago period, to $4.99 billion from $4.9 billion a year ago. For the year ended Jan. 31, same-store sales grew 2.6 percent, to $15 billion from $14.8 billion. (Internet Retailer)

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