JC Penney Company Inc. reported that in September 2013 its sales in comparable stores decreased by 4% in the year-on-year terms. However, the group's revenues increased by 580 basis points compared to August 2013, reports Rapaport.
The results of sales of jewelry, clothing and accessories for women in September were better than the average performance of JC Penney for all categories of products. Gross margins were under pressure from factors such as excess inventory during the first two quarters of this year.
In the meantime, revenues from online sales at jcp.com jumped 25.3% year-on-year.