JCPenney February comps better than expected

PLANO JCPenney reported that comparable-store sales decreased 8.8% for the four-week period ended Feb. 28, better than the company’s guidance for a mid-teen decrease. During the same period last year, comparable-store sales decreased 6.7% Total company sales in February decreased 7.2%.

Overall, home and family shoes were the best performing divisions in February, with the home division benefiting from the shift of the company’s home sale event into the February reporting period, said JCPenney. Fine jewelry experienced the weakest sales results. The company noted that the sales mix in the period included a lower level of clearance merchandise than last year.

Geographically, the best performing area of the country was the Central region, while the Southeast region had the weakest results.

For the five-week period ending April 4, the company expects comparable-store sales to decrease in the low-double digit to mid-teen range. In last year’s March period, comparable-store sales decreased 12.3%.