|
JC Penney general overview
J. C. Penney Company, Inc. (NYSE:JCP) reported last
week that comparable department store sales increased 4.3
percent for the five weeks ended December 27, 2003. This
represents the third consecutive year in which December
sales have increased by more than four percent. Sales were
particularly strong in the final days prior to, and immediately
after Christmas. All merchandise divisions had positive
comparable store sales.
Catalog/Internet sales increased 5.6 percent, above expectations.
Catalog was led by holiday gift merchandise and specialty
books. Internet sales continued to experience strong growth,
increasing over 45 percent for the month and year to date.
The Company currently expects both comparable department
store and catalog/Internet sales for the January period
to be up low single digits, and comparable drugstore sales
to be down low single digits. These sales expectations exclude
the effects of the 53rd week which will be reported in this
year's January period.
On a consolidated basis, the Company continues to be comfortable
with the previously communicated earnings per share guidance
for the fourth quarter and full year.
Toddler and infant department
overview
The floor was in transition from winter to spring
but still looked neat and well organized. Okie Dokie, Carter's
and Osh Kosh are the big brands on campus while Arizona,
the house denim line, provides some extra mileage for the
tag in small sizes. Carter's continues to maintain a dominant
presence with themed and branded display cases chock full
of colorful infant merchandise right up front. Wonderful
novelty sets, value added basics by Okie Dokie and great
denim related product by Arizona are the highlights this
month!
Opportunities in the girl's area
The jump into spring is a little less abrupt here
that it was in boys but there is still a valid point to
be made about offering parents seasonally appropriate choices!
Not all parents and gift givers are readily willing to purchase
high spring merchandise in the second week of January. How
about some more transitional merchandise featuring new trends,
colors and fabrication but in longer sleeves or in layered
concepts. Offering knit tops in 2 for one "packages"
with one long sleeved and one short sleeved may be a great
way of covering all temperature extremes and offering value
at once. We would also like to see some spring hoodies,
track jackets, vests and fashion fleece Pants / Shorts!
A look into the department:
|
