J. C. Penney Comparable Store Sales Up 3.9% In November-December Period

(RTTNews) - J. C. Penney Company Inc. (JCP) reported that its comparable store sales for the combined nine-week November and December period resulted in a 3.9 percent increase over the same period last year, which equates to a 7.6 percent two-year stack of comparable store sales for the same time period.

"Despite unprecedented warm weather that significantly affected apparel sales across the Company, our focus on private brands, enhanced omnichannel execution and compelling gift giving selection resulted in strong holiday sales. I am especially pleased with the accelerated comp sales improvement from November to December, including record online sales for the Company during the holiday season," said Marvin R. Ellison, chief executive officer of JCPenney.

The company also reaffirmed its full-year adjusted EBITDA target of $645 million and plans to generate positive free cash flow in fiscal 2015.

The company noted that it will report its fourth quarter and fiscal 2015 results on February 26.