JCPenney confident in August results

PLANO, Texas JCPenney today reported that total company sales for the four weeks ended Sept. 1 were $1.56 billion, a decrease of 1.1% from 1.58 billion last year. According to the company, this was better than previous guidance.

The company also reported a comparable-department-store sales decrease of 4%. Again, JCPenney said this was better than its guidance for a mid- to high-single digit sales decrease. Comparable-store sales in the July period increased 10.8%.

For September, the company expects sales to increase in the low-single digits. Comparable-department-store sales for October are expected to increase mid- to high-single digits due to a promotional event in the first week of November that will be included in this year's October reporting period.