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JCPenney disappoints, Dillard’s shines in January
NEW YORK -- Dillard’s was the clear winner in the department store category in January, posting a same-store sales increase of 6%, which edged results from both Macy’s and Saks.
JCPenney was the big disappointment, as same-store sales dropped an unexpected 1.2%. A survey of analysts by Thomson Reuters produced a consensus estimate of same-store sales up 1.8%.
The retailer said January sales were impacted by lower levels of clearance inventory as well as by adverse weather conditions.