JC Penney crosses $1 bn mark in online annual sales
18 Jan '06
3 min read
Nation's largest catalog merchant JC Penney Company Inc announced that its web site, jcpenney.com, reached a milestone that few online retailers have attained: $1 billion in annual sales.
jcpenney.com, one of the Internet's largest retail sites for apparel and home furnishings, officially achieved the mark on Friday, Jan. 13, 2006.
"The rapid growth of jcpenney.com into a billion-dollar business is a great tribute to the efforts of the entire JC Penney team," said Myron E (Mike) Ullman III, Chairman and Chief Executive Officer, JC Penney Company Inc.
"They recognized early on that e-commerce would be an important part of their business and focused on creating an exceptional shopping venue while capitalizing on their comprehensive fulfillment capabilities.
As they acknowledge this achievement, they believe the Internet continues to provide a significant growth opportunity and look forward to maximizing jcpenney.com's full potential as an integral part of their long-range plan."
The launch of jcpenney.com in 1994 marked the introduction of a major department store retailer selling merchandise via the Internet.
Since then, jcpenney.com has experienced rapid growth, realizing sales gains of 30 percent to 50 percent per year and establishing its place as the largest web site operated by a department store.
Additionally, JCPenney was a pioneer in integrating its web site with its department store and catalog channelsinto the concept known as "multi-channel" shopping, now an important part of the company's business strategy.
marketing@alchempro.com
