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JCPenney: We’re back

2015.03.03


In announcing JCPenney’s year-end numbers yesterday, executives said the retailer is has regained its footing. In addition, Penney shed light on its digital performance – for the final time.

“We're back in the eyes of the consumers, we're back in running the business effectively, and we're back on solid financial footing, and we fully intend to build on this momentum and continue to significantly improve our business in 2015,” ceo Mike Ullman told analysts during the company’s fourth quarter conference call.

JCPenney.com experienced a mid single-digit increase in transactions in the fourth quarter and positive low single-digits for the full year, said Ed Record, cfo and evp. In addition, the company’s new app is helping to drive stronger growth in mobile. Sames-store sales in e-commerce jumped 12.5% in the fourth quarter compared to the third.

E-commerce business was up 13.4% for the year. Home now accounts for about 40% of the digital business and racked up a double-digit increases last year.

This spring, Penney will expand a program that allows shoppers to have online purchases shipped to their local store. It also plans to ramp up same-day in-store pickup of online purchases.

Since bricks and clicks are becoming more fully integrated into an omnichannel system, the company announced it will no longer break out digital performance, although it will remain a part of the comparable store sales calculation.

Driving customer loyalty is job one, according to Ullman, who said the retailer will leverage that loyalty to propel sales growth.

“I really believe the viability of JCPenney has never been better – positioned right in the middle of the mid-tier,” he added.

 

Source: Home & Textiles Today

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