JCPenney management happy with early back-to-school results
10 Aug '07
3 min read
Third Quarter Sales Guidance:
For the third quarter, management expects both comparable department store and Direct sales to increase low-single digits. Consistent with second quarter sales patterns, management reiterated that calendar shifts due to last year's 53rd week will continue to have a significant impact on reported monthly sales. Sales guidance by month for the quarter is as follows:
• August: Because sales for the first week in August - which is a significant Back-to-School week - were reported in this
year's July period, guidance for the August reporting period is for a mid- to high-single digit decrease in comparable store sales, while Direct sales are expected to increase low-single digits. In last year's August period, comparable department store sales decreased 0.5 percent and Direct sales increased 0.5 percent.
• September: Sales are expected to increase low-single digits for both comparable department stores and Direct.
• October: Comparable department stores are expected to increase mid- to high-single digits in October due a promotional event in the first week of November that will be included in this year's October reporting period. Direct sales are expected to increase low-single digits.
Management will host a live conference call and real-time webcast on Aug. 16, 2007, beginning at 9:30 a.m. ET. Access to the conference call is open to the press and general public in a listen only mode.
marketing@alchempro.com
