ECOMMERCE

On-line Retailing Passes $1 Billion Mark at J.C. Penney

BY CSA STAFF

Plano, Texas, J.C. Penney Co. announced on Tuesday that its Web site, jcpenney.com, has reached a milestone: $1 billion in annual sales. More than 300,000 items are available on the site, launched in 1994.

“The rapid growth of jcpenney.com into a billion-dollar business is a great tribute to the efforts of the entire J.C. Penney team,” said Myron (Mike) Ullman III, chairman and CEO, J.C. Penney Co. “As we acknowledge this achievement, we believe the Internet continues to provide a significant growth opportunity and look forward to maximizing jcpenney.com’s full potential as an integral part of our long-range plan.”

New point-of-sale terminals being installed in J.C. Penney stores nationwide expand the merchandise selection for customers by allowing sales associates to access jc.penney.com from their terminal screens, allowing them to offer additional items, colors and sizes not available in the store.

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S.Gacho says:
Mar-29-2013 02:44 pm

Online services are really in
Online services are really in demand for now. Nowadays we can shop online, order online, pay online. That what has technology brought us. - Aldo Todini

S.Gacho says:
Mar-29-2013 02:44 pm

Online services are really in demand for now. Nowadays we can shop online, order online, pay online. That what has technology brought us. - Aldo Todini

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Kmart Reduces Full-Time Employee Roster

BY CSA STAFF

Troy, Mich., Kmart has outlined a new plan that reduces its full-time work force in favor of more part-timers at its 1,400 stores nationwide.

Some recently terminated full-time Kmart employees have been offered some of the part-time slots.

The new plan is entitled “Full-Time-Part-Time Workforce Adjustment Guidelines,” and is one of the latest cost-cutting steps taken by Kmart since it merged with Sears, Roebuck and Co. last year.

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Eddie Bauer Identifies Accounting Errors

BY CSA STAFF

Redmond, Wash., Newly emerged from bankruptcy, Eddie Bauer Holdings has identified errors in its balance sheets and cash-flow statements. The company has issued a statement saying that the errors will be corrected, but that they will not have an effect on net cash flows.

The company also announced the departure of CFO Timothy McLaughlin, who has been replaced in the interim by David Taylor, effective immediately.

The financial understatements are related to lease accounting.

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