- Title: J.C. Penney beats same-store sales forecasts, shares surge 20 pct
- Date: 28th February 2019
- Summary: MONTCLAIR, NEW JERSEY, UNITED STATES (FEBRUARY 28, 2019) (REUTERS VIA SKYPE) (SOUNDBITE) (English) TRUETRAE.COM SMART SHOPPING EXPERT AND RETAIL ANALYST, TRAE BODGE, SAYING: "I think they should continue to hone in on that core customer, make sure she's being attended to. Something that a lot of stores are doing that's falling short in a way is good customer service. So I'
- Embargoed: 14th March 2019 15:27
- Keywords: retail department store U.S. shoppers toys results deals presents holiday shopping season phones buying TV strong economy gaming consoles and cookware rising wages Black Friday J.C. Penney's Apple iPads Watches selling
- Location: NEW YORK, NEW YORK, AND MONTCLAIR, NEW JERSEY, UNITED STATES
- City: NEW YORK, NEW YORK, AND MONTCLAIR, NEW JERSEY, UNITED STATES
- Country: USA
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA006A3HZN2L
- Aspect Ratio: 16:9
- Story Text: J.C. Penney's comparable-store sales fell at a lower pace than expected, as the department store chain sold more jewelry and apparel during the key holiday shopping season.
Shares in the company surged 21 percent to $1.50 in early trade on Thursday (February 28) following the news.
The results suggested that the Plano, Texas-based retailer's strategy to better serve its loyal customer base of middle-aged women rather than chasing after millennials with fickle tastes, appears to be paying off.
The company, once a storied name in American retail and today worth less than a tenth of its value two years ago, has also shuttered hundreds of stores, exited unprofitable businesses and revamped its locations to boost sales and revive profits.
(Production: Hussein Waaile, Aleksandra Michalska) - Copyright Holder: REUTERS
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