JCPenney says trends improving

Retail Editor 1, September 27, 2013

Plano, Texas - In a prospectus filed with the Security and Exchange Commission , JCPenney says its business is stabilizing and its third quarter comps should be positive.
"The company continues to be encouraged by improvements in purchase conversion both in store and on jcp.com, primarily due to being back in stock in key items and sizes the customer expects to find at jcpenney. Overall sales on jcp.com continue to trend double digits ahead of last year," the company reported.
The company plans to sell up to 96.6 million shares through Goldman Sachs to raise capital. JCPenney in the filing said it expects to end the year with approximately $1.3 billion in overall liquidity from its current cash position and the undrawn portion of its credit facility alone.

 

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos

CURRENT ISSUE

HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!