JCPenney Sees January Sales Drop

JC Penney Co. Inc. (Plano, Texas) reports that its comparable store sales for the four-week period ended Jan. 29, 2011, dropped 1.2 percent. After strong sales during the first two months of the quarter, which resulted in quarterly sales coming in above the company's expectations, January sales were hit by lower levels of clearance inventory and adverse weather conditions, compared to the same period last year.

Geographically, the company saw its best results in the southwest and northwest. Among merchandise categories, women's apparel and accessories were the top performers in January, with sales of Liz Claiborne apparel and accessories performing ahead of expectations.

Overall, for the 52-week period ended Jan. 29, the department store retailer’s total sales were up 1.2 percent and same-store sales grew 2.5 percent.