US: JC Penney November same-store sales rise 10%
JC Penney's same-store sales grew 10% in November
JC Penney has posted a 10% increase in same-store sales in November, as the struggling department store retailer continues with efforts to turn around its business.
During the month ending 30 November, which included the Thanksgiving weekend, e-commerce sales were also strong, the retailer said, running well ahead of last year.
"We are pleased with our performance over the Thanksgiving holiday weekend, particularly in light of the continued spending pressures on consumers," said CEO Mike Ullman.
"The combination of our great merchandise and compelling promotions put us in a position to succeed in a highly competitive environment, and our teams executed very well."
Last month, Ullman said JC Penney's turnaround was beginning to take hold, after same-store sales edged up 0.9% in October - the first rise in almost two years.
The company has returned to a more promotional stance after earlier turnaround efforts - led by former CEO Ron Johnson - failed to gain traction.
"The traffic and conversion we saw both in stores and online this weekend was exciting for everyone across our organisation. We know the environment will remain as competitive as ever, and we are all working to maintain our momentum through the holiday season."
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