JCPenney May comps performance better than expected

PLANO, Texas JCPenney comparable-store sales decreased 8.2% for the four weeks ended May 30, slightly better than the company’s guidance for sales to decrease 9% to 12% and compared to a 4.4% decrease last year. Total sales in May decreased 6.7%.

The top performing merchandise division during the month was the women’s division, as the customer continued to respond well to the company’s spring apparel offerings. The fine jewelry division experienced the weakest sales during the month. Geographically, the best performing region of the country was the southwest while the Southeast region experienced the weakest results.

Management’s guidance for the five-week period ending July 4, is for a 9% to 12% decrease in comparable-store sales, compared to a 2.4% decrease in last year’s June period.