J C Penney Company Inc (NYSE:JCP) Updates On Holiday Sales Performance


J C Penney Company Inc (NYSE:JCP) reported that its comparable store sales for the nine-week period closing December 30, 2017 jumped 3.4 % over the comparable period last year. The firm also reaffirmed all elements of its latest full-year financial guidance for FY2017.

The buzz

Marvin R. Ellison, the CEO and Chairman of J C Penney, reported that they are extremely thrilled with their overall comp sales performance in the holiday season. It was led by beauty, fine jewelry and home sales. In addition, their apparel segments continue to showcase improved comp performance, especially in women and kids.

They are also delighted by their e-commerce business that remains to surpass prior year results with sales growth coming in double-digit, largely led by sought-after gifting segments such as fine jewelry, luggage and home decor, boots, athletic footwear and toys. Their ability to follow e-commerce fulfillment from entirely of their brick and mortar outlets helped boost the growth in e-commerce platform for the holiday season. They remain assure that their strategic plans are taking hold and echoing with customers.

The CEO of J C Penny expressed that as they close FY2017, they stay committed to managing the business for growth, while offering their consumers increased reasons to shop and enjoy everything company has to offer. They look forward to revealing more details about their Q4 2017 performance and full year performance as well as their FY2018 expectations during their earnings call on March 2, 2018.

In the last trading session, the stock price of J C Penny gained more than 1% to close the day at $3.93. The gains came at a share volume of 8.32 million compared to average share volume of 17.44 million. Post the recent decline, the market cap of firm was noted at $1.2 billion. So far in this month, the stock has posted gains of more than 24%.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.