Beleaguered department store chain J.C. Penney just announced that its comparable store sales climbed 0.9% in October.
“JCPenney has made significant progress in addressing the challenges it faces, and we believe the Company is on the right track to return to long-term profitable growth,” said CEO Mike Ullman. “We are proud of our October sales improvement, which we achieved despite the federal government shutdown and a challenging consumer environment. Not only did we deliver positive same store sales for the first time since December of 2011, we also saw significantly improved sales trends in Home and Men’s apparel, as well as Women’s accessories.”
While 0.9% seems like a small game, it is a welcome reversal from the double-digit losses it had been experiencing in recent months and years.
Sales fell 25% in 2012.