PLANO (AP) — J.C. Penney is reporting a 3.1 percent rise in comparable-store sales during the critical nine-week holiday period.
Company shares jumped 4 percent in premarket trading.
Fourth-quarter sales at stores open at least a year climbed about 2 percent, excluding the 53rd week of 2012.
It was the first time since the second quarter of 2011 that the struggling department store has posted such a large increase.
Same-store sales are a key gauge of a retailer’s health because it excludes the volatility associated with stores recently opened or closed.
J.C. Penney Co., based in Plano, Texas, ended 2013 with more than $2 billion in total available liquidity. Industry watchers are paying close attention to that number as the retailer tries to turn itself around.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- Kings Derail Dallas, 112-98
- ‘Fake’ Parking Attendants Targeting Popular Dallas Neighborhoods
- CBS11 I-Team: Inspections Missed On Local Flood Control Projects
- Dallas Man Says He Was Kicked Off Flight Because Crew Was Uncomfortable
- Attacker Who Gouged Out Man’s Eye Back On Street
- Azle Residents Take Quake Concerns To Austin
- Cowboys’ Romo Update: Complication In Back Surgery
- TCU Students Demand Higher Quality Toilet Paper
- Garland Police Arrest Teen Suspect For 7-11 Clerk Murder
- Owner Reunites With Dog 4 Months After ‘Dognapping’
- PHOTOS: Your Pet Pictures