J. C. Penney Company, Inc. announced financial results for its fiscal second quarter ended July 29, 2017. Total net sales increased 1.5 % to $3.0 billion in the second quarter compared to $2.9 billion in the same period last year. Comparable sales declined (1.3) % for the second quarter, resulting in a positive two-year stack of 0.9 %. Marvin R. Ellison, chairman and chief executive officer said, "We are pleased to deliver a top line sales increase of 1.5 % and quarterly sequential improvement of 220 basis points in our comp sales performance in go forward stores. While broader retail remains challenged, we are encouraged by the improved performance in our total apparel business, including a significant acceleration in kids' apparel. Nearly all categories delivered improved sales results during the quarter, with our growth initiatives in beauty, home refresh and omnichannel continuing to deliver positive sales growth." Click Read More below for additional detail.
The Wall Street Journal’s award-winning business news and analysis is coming to Canada!
Effective Tuesday, June 12, Torstar daily newspapers and websites across the country will begin publishing a limited sample of articles from The Wall Street Journal, the world’s pre-eminent source of financial news and information.
Also starting Tuesday, June 12, the Toronto Star, Torstar’s flagship newspaper, will launch Star Business Journal, a major new initiative with both print and online editions featuring articles on business, the economy, technology and markets from The Wall Street Journal.
Coming soon, customers will be offered greater access every day to a larger, more wide-ranging package of Wall Street Journal articles, including access to curated newsletters as part of a digital subscription package.
“The world of business is becoming increasingly global and this exclusive partnership with The Wall Street Journal offers our customers, particularly aspiring and established business leaders, a unique and informative perspective on news they can use,” said John Boynton, President of Torstar Corporation and Publisher of the Toronto Star.
“This collaboration with The Wall Street Journal is an important element in Torstar’s overall transformation initiative – with a lot more to come,” he said.
more at: https://www.torstar.com/html/whats_new/index.cfm?view=article&wnID=207