PLANO (AP) – J. C. Penney Co. says a key sales measure jumped 10.1 percent in November, helped by a strong start to the holiday shopping season.
The Plano, Texas-based company’s stock rose 5 percent in after-hours trading Tuesday.
J.C. Penney said revenue from stores open for at least a year improved because of its merchandise selection and promotions despite a competitive retail environment. The figure is a closely watched indicator of financial performance because it strips away the impact of recently opened or closed stores.
The retailer also said that its online sales were strong and were running well ahead of last year.
The company said it hopes to maintain its momentum through the holiday season.
J.C. Penney is focusing on the holiday shopping season as an opportunity to bounce back after a long sales slump. The company has lost more than $2.4 billion since late 2011.
Shares of J.C. Penney picked up 51 cents to $10.62 in extended trading Tuesday. They increased 10 cents to close regular trading at $10.11, but are down 49 percent in 2013.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- Frisco Police Find Two Injured In Shooting At Sports Bar
- Search Underway For Swimmer In Lake Lewisville
- Reed Gets Victory At The Barclays, Secures Ryder Cup Spot
- Mexican Superstar Juan Gabriel Dies At 66
- 2 Dead, 36 Hurt After Bus Hits Fire Truck, More Vehicles
- Before Drug Sentencing Former Cowboy Sends Letter To CBS 11
- 4th Abduction Attempt In Tarrant County
- Evacuations In Milford After Natural Gas Pipeline Explosion
- Witnesses Watch 2 Lions Kill Lioness At Dallas Zoo
- Safety Institute Suggests Booster Seats Until Age 12
- PHOTOS: Your Pet Pictures