JCPenney reports record Q4 & full year operating results
26 Feb '07
3 min read
J. C. Penney Company Inc announces reports record Fourth Quarter and Full Year operating results.
2006 Highlights:
• Operating Profit increased 13.2 percent for the fourth quarter and 17.8 percent for the year
• Comp store sales increased 3.7 percent for the year
• Sales through jcp.com increased 24% for the year, reaching $1.3 billion
• Accelerated new store growth, opening 28 stores for the year
• Successfully launched a.n.a, a modern women's casual brand that exceeded $300 million in its first year
• Launched Every Day Matters, a new positioning of the JCPenney brand
• Announced plans for American Living, a new lifestyle brand created exclusively for JCPenney by Polo Ralph Lauren's Global Brand Concepts for spring 2008
• New Long Range Plan to be unveiled at April Analyst Meeting
J. C. Penney Company Inc reported record earnings per share from continuing operations in the fourth quarter and full year of 2006. For the quarter, operating profit improved 50 basis points to 11.3 percent of sales and was driven by strong gains in gross margin.
Earnings from continuing operations for the quarter increased to $457 million. Earnings per share from continuing operations were $2.00 per share, ahead of initial guidance of $1.94 per share and up from $1.92 per share last year. For the full year, operating profit improved 100 basis points to 9.7 percent of sales and earnings from continuing operations increased to $4.88 per share.
marketing@alchempro.com
