US: JCPenney unveils plans to add $1bn in sales
Department store retailer JC Penney Company Inc is opening three stores next year and expects to have completed improvements at another 750 locations this year, as part of an expansion plan intended to lift sales by $1bn by 2015.
The three new stores – in Daly City (San Francisco), Glenarden (Washington, DC), and Dallas – will help expand its presence in major markets, the company said yesterday (28 September).
While the store renovation programme, which highlights new brands and concepts, will include dedicated shop-within-shops for new brands such as MNG by Mango and Call it Spring by ALDO, and new fixturing for the rollout of Liz Claiborne across 30 categories.
As well as improvements at more than 750 stores this year, there have also been 76 major renovations. The improvements are costing $160m out of the total $500m of expected capital expenditure for the year. By 2014, the company said it plans to complete major renovations at a more than 375 stores.
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The following is a general roundup of US apparel and shoe chains' February 2011 sales results. The list will be updated as new results become available....
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Adding more exclusive brands such as Liz Claiborne to its line-up has attracted new customers, helped lift sales, and driven a 35.5% hike in fourth quarter profit at department store retailer JC Penne...
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