jcp q3估计继续亏损。# Stock
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J. C. Penney Company, Inc. (NYSE: JCP [FREE Stock Trend Analysis]) (the "
Company") today reported that it is making solid progress in its turnaround
and provided an update on the Company's operating performance and key
initiatives underway to return to profitable growth.
Myron E. (Mike) Ullman, III, Chief Executive Officer of JCPenney, said, "
Reconnecting with our customers and getting them into our stores is a top
priority. Our enhanced messaging is reminding shoppers that JCPenney's
offering of trusted private brands, key national brands and unique
attractions sets us apart from the competition. Over the last six months, we
have made significant strides and are now seeing positive signs in many
important areas of the business, in spite of what continues to be a
difficult environment for consumers and retailers in general. While pleased
with the improving trends and more predictable performance, we are still in
the early stages of the turnaround and will maintain a relentless focus on
achieving our long-term goals for the benefit of our customers, associates
and shareholders."
The Company is pursuing a number of strategic initiatives in order to
continue driving improved performance. It provides an update in key areas of
strategic focus below.
Improving Sales Trends
The Company saw improved sales trends in fiscal September, and expects this
to continue throughout the remainder of the year.
-- Sales for the fiscal month of September, ended October 5, were down 4.0%
when compared to September 2012. This constitutes a 580 basis point
improvement over August 2013.
-- Sales on jcp.com http://jcp.com/ continue to trend double digits ahead of last year, and are up 18.6% in the third quarter to date. September sales on jcp.com experienced 25.3% sales growth over the same period last year.
-- Women's and Men's apparel, fine jewelry and Women's accessories are
performing better than the Company average. Women's apparel, the Company's
largest business, reported positive sales for the month of September.
-- Gross margins continue to be impacted by lower clearance margins due to
the overhang of inventory from the first two quarters of the year, higher
levels of clearance units sold during the period, as well as the Company's
transition back to a promotional pricing strategy during the second quarter
of 2013.
-- For the month of September, units per transaction and average transaction
value are above last year, while average unit retail was below last year.
Financial Condition
Last week, JCPenney closed a public offering of 84 million shares of common
stock that generated approximately $785 million in net cash proceeds. The
Company's year-end liquidity is now expected to be in excess of $2 billion,
taking into account the net proceeds of approximately $785 million from the
offering, as well as the previously disclosed expectation of $1.3 billion of
year-end liquidity including the undrawn portion of the Company's credit
facility.
Reconnecting with the Customer to Drive Traffic and Purchase Conversion
With its renewed focus on putting the customer first, JCPenney is rebuilding
its base of highly satisfied and loyal customers. Customer service scores
are at all-time highs for the Company.
During September, purchase conversion increased when compared to the same
period last year for both stores and jcp.com, primarily due to improved
inventory levels in key items and sizes that the customer expects to find at
JCPenney. Traffic trends have improved during the quarter, including
positive off-mall traffic for the last two weeks of September, though
traffic in the Company's mall-based stores continues to be difficult.
Mr. Ullman continued, "Reconnecting with our customers starts by having the
merchandise they want and expect from JCPenney and finishes with an
exceptional experience when they shop with us. With inventory restored to
the appropriate levels, we are in stock in the key items and brands she
expects to find during every visit. At the same time, our marketing will
continue to capitalize on the compelling value we offer, including the sales
and promotions our customers love."
Restoring the Right Merchandise Assortment and Appropriate Inventory Levels
Private brands and basics are an integral - and profitable - part of the
Company's strategy. Private brands, such as St. John's Bay, Arizona and
Stafford, and key item basics have been restored to inventory levels
sufficient to meet customer demand heading into the critical Holiday season.
Mr. Ullman added, "In addition to our private brands, our assortment of
trusted national brands such as Levi's, Carters, Nike and others has made
JCPenney a leading destination for families. I am pleased that JCPenney's
performance in many key national brands is significantly ahead of last year.
JCPenney remains current in its payments to vendors and we are grateful for
the strong support and confidence they have shown as we continue to make
progress in our turnaround."
Fixing the Home Store
Getting the new Home strategy up and running has been more challenging than
originally planned. To date, the Company has re-opened all but a handful of
its 505 new Home departments. The merchandise assortment, shopping
environment and price points have not resonated with customers, and sales
trends remain weaker in stores. In-line with customer preferences, the
Company is working aggressively to create a more balanced assortment between
modern and traditional home furnishings, with opening price points and an
easy shopping environment, which includes remerchandising the home store by
classification in key areas.
Leadership
The Company has a highly experienced and focused leadership team. Over the
last few weeks, it has filled several key positions with highly qualified
executives from inside the Company. This includes the appointments of Scott
Laverty to EVP, Chief Information Officer, Jan Hodges to SVP, GMM of Home
and Katheryn Burchett to SVP of Property Development.
Mr. Ullman concluded, "Although there remains significant work to be done,
the experience, talent and drive of our team is allowing us to confront our
challenges head on and take swift and effective actions to address them. We
are all dedicated to continuing the momentum underway and restoring JCPenney
to a leadership position in American retail. It will take time, but we are
on the right path with a sound strategy and achievable goals."
Read more: http://www.benzinga.com/news/13/10/3974093/update-j-c-penney-company-inc-provides-update-on-progress-of-turnaround#ixzz2hAKY5Pem
Company") today reported that it is making solid progress in its turnaround
and provided an update on the Company's operating performance and key
initiatives underway to return to profitable growth.
Myron E. (Mike) Ullman, III, Chief Executive Officer of JCPenney, said, "
Reconnecting with our customers and getting them into our stores is a top
priority. Our enhanced messaging is reminding shoppers that JCPenney's
offering of trusted private brands, key national brands and unique
attractions sets us apart from the competition. Over the last six months, we
have made significant strides and are now seeing positive signs in many
important areas of the business, in spite of what continues to be a
difficult environment for consumers and retailers in general. While pleased
with the improving trends and more predictable performance, we are still in
the early stages of the turnaround and will maintain a relentless focus on
achieving our long-term goals for the benefit of our customers, associates
and shareholders."
The Company is pursuing a number of strategic initiatives in order to
continue driving improved performance. It provides an update in key areas of
strategic focus below.
Improving Sales Trends
The Company saw improved sales trends in fiscal September, and expects this
to continue throughout the remainder of the year.
-- Sales for the fiscal month of September, ended October 5, were down 4.0%
when compared to September 2012. This constitutes a 580 basis point
improvement over August 2013.
-- Sales on jcp.com http://jcp.com/ continue to trend double digits ahead of last year, and are up 18.6% in the third quarter to date. September sales on jcp.com experienced 25.3% sales growth over the same period last year.
-- Women's and Men's apparel, fine jewelry and Women's accessories are
performing better than the Company average. Women's apparel, the Company's
largest business, reported positive sales for the month of September.
-- Gross margins continue to be impacted by lower clearance margins due to
the overhang of inventory from the first two quarters of the year, higher
levels of clearance units sold during the period, as well as the Company's
transition back to a promotional pricing strategy during the second quarter
of 2013.
-- For the month of September, units per transaction and average transaction
value are above last year, while average unit retail was below last year.
Financial Condition
Last week, JCPenney closed a public offering of 84 million shares of common
stock that generated approximately $785 million in net cash proceeds. The
Company's year-end liquidity is now expected to be in excess of $2 billion,
taking into account the net proceeds of approximately $785 million from the
offering, as well as the previously disclosed expectation of $1.3 billion of
year-end liquidity including the undrawn portion of the Company's credit
facility.
Reconnecting with the Customer to Drive Traffic and Purchase Conversion
With its renewed focus on putting the customer first, JCPenney is rebuilding
its base of highly satisfied and loyal customers. Customer service scores
are at all-time highs for the Company.
During September, purchase conversion increased when compared to the same
period last year for both stores and jcp.com, primarily due to improved
inventory levels in key items and sizes that the customer expects to find at
JCPenney. Traffic trends have improved during the quarter, including
positive off-mall traffic for the last two weeks of September, though
traffic in the Company's mall-based stores continues to be difficult.
Mr. Ullman continued, "Reconnecting with our customers starts by having the
merchandise they want and expect from JCPenney and finishes with an
exceptional experience when they shop with us. With inventory restored to
the appropriate levels, we are in stock in the key items and brands she
expects to find during every visit. At the same time, our marketing will
continue to capitalize on the compelling value we offer, including the sales
and promotions our customers love."
Restoring the Right Merchandise Assortment and Appropriate Inventory Levels
Private brands and basics are an integral - and profitable - part of the
Company's strategy. Private brands, such as St. John's Bay, Arizona and
Stafford, and key item basics have been restored to inventory levels
sufficient to meet customer demand heading into the critical Holiday season.
Mr. Ullman added, "In addition to our private brands, our assortment of
trusted national brands such as Levi's, Carters, Nike and others has made
JCPenney a leading destination for families. I am pleased that JCPenney's
performance in many key national brands is significantly ahead of last year.
JCPenney remains current in its payments to vendors and we are grateful for
the strong support and confidence they have shown as we continue to make
progress in our turnaround."
Fixing the Home Store
Getting the new Home strategy up and running has been more challenging than
originally planned. To date, the Company has re-opened all but a handful of
its 505 new Home departments. The merchandise assortment, shopping
environment and price points have not resonated with customers, and sales
trends remain weaker in stores. In-line with customer preferences, the
Company is working aggressively to create a more balanced assortment between
modern and traditional home furnishings, with opening price points and an
easy shopping environment, which includes remerchandising the home store by
classification in key areas.
Leadership
The Company has a highly experienced and focused leadership team. Over the
last few weeks, it has filled several key positions with highly qualified
executives from inside the Company. This includes the appointments of Scott
Laverty to EVP, Chief Information Officer, Jan Hodges to SVP, GMM of Home
and Katheryn Burchett to SVP of Property Development.
Mr. Ullman concluded, "Although there remains significant work to be done,
the experience, talent and drive of our team is allowing us to confront our
challenges head on and take swift and effective actions to address them. We
are all dedicated to continuing the momentum underway and restoring JCPenney
to a leadership position in American retail. It will take time, but we are
on the right path with a sound strategy and achievable goals."
Read more: http://www.benzinga.com/news/13/10/3974093/update-j-c-penney-company-inc-provides-update-on-progress-of-turnaround#ixzz2hAKY5Pem
