JCPenney says comps dip in line with outlook

PLANO, Texas JCPenney reported comparable-store sales decreased 4.4% for the four weeks ended May 31, in line with guidance for sales to decrease mid-single digits and compared to a 0.9 % decrease last year. Total sales in May decreased 2.4%.

The company said its best performing categories were family footwear and women’s accessories, while fine jewelry and most home categories continued to experience weaker sales. Geographically, the best performing region of the country was the Northwest.

Management’s guidance for the five-week period ending July 5, is for a mid-single digit decrease in comparable-store sales, compared to a 0.7% decrease in last year’s June period.