JCPenney: Home saw biggest bump in October
Retail Editor 2 -- Home Textiles Today, November 7, 2013
Plano, Texas - JCPenney's home department clocked the largest percentage sales increase last month among all the store's divisions, the company announced today.
Following the rollout of the snazzy-looking but unproductive reset of home in June, the company has been remerchandising and bringing down price points in home both in-store and online. E-commerce sales of home jumped more than 50% in October compared to a year ago, according to the company.
Overall, JCPenney's same-store sales rose 0.9% in October, a 490 basis point increase over September. Online sales rose 37.6% year-over-year. But ridding itself of inventory has taken a bite out of gross margins, although the company said October generated the best margin levels for the third quarter.
"We will soon be unveiling new marketing to better communicate the unique value and stylish merchandise assortment we offer," said ceo Mike Ullman. "We expect the holiday season to be extremely competitive, and we are ready to win."
JCPenney will report its full third quarter results Nov. 20.
Mednick Talks to HTT about Online Trends for Textiles