FINANCE

Penney same-store sales up 10% in November

BY Marianne Wilson

Plano, Texas — J. C. Penney said that its same-store sales rose 10.1% for the fiscal month ending November 30, 2013. The retailer’s stock was up 4.6% to $10.57 percent in after-hours trading Tuesday.

"We are pleased with our performance over the Thanksgiving holiday weekend, particularly in light of the continued spending pressures on consumers. The combination of our great merchandise and compelling promotions put us in a position to succeed in a highly competitive environment, and our teams executed very well," said Myron E. (Mike) Ullman, III, CEO, J.C. Penney. .

Penney also said that its online sales were strong and were running well ahead of last year.

"The traffic and conversion we saw both in stores and online this weekend was exciting for everyone across our organization,” Ullman said.

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K.Starling says:
Dec-04-2013 07:05 pm

Finally some good news!
As a JCP employee, I am so gratified to finally see some positive results and more importantly, positive press for JCP. It seemed for a while there that that fool Ron Johnson had not only cost this company untold millions of dollars and decades worth of customer loyalty, but had also nailed our coffin shut for good. There is a major lesson to be learned here. No matter how many great ideas you may have or how much success you may have enjoyed in your past positions, YOU HAVE TO KNOW AND UNDERSTAND YOUR CUSTOMER. Ron Johnson clearly did not. JCP is not out of the woods yet. We have a long way to go to try to regain our old customer base while attracting a younger, more affluent new one. But this is one glimmering light of hope that we are finally on the right path.

K.Starling says:
Dec-04-2013 07:05 pm

As a JCP employee, I am so gratified to finally see some positive results and more importantly, positive press for JCP. It seemed for a while there that that fool Ron Johnson had not only cost this company untold millions of dollars and decades worth of customer loyalty, but had also nailed our coffin shut for good. There is a major lesson to be learned here. No matter how many great ideas you may have or how much success you may have enjoyed in your past positions, YOU HAVE TO KNOW AND UNDERSTAND YOUR CUSTOMER. Ron Johnson clearly did not. JCP is not out of the woods yet. We have a long way to go to try to regain our old customer base while attracting a younger, more affluent new one. But this is one glimmering light of hope that we are finally on the right path.

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FINANCE

Visa’s Black Friday weekend online sales up 30%

BY Staff Writer

New York — Visa reported that Black Friday weekend e-commerce sales across smart phones, tablets and PCs conducted by U.S. Visa accountholders increased 30% to $7.8 billion.

The company also noted that Cyber Monday ruled the five-day period with spending on Visa cards up 28% to $2.6 billion while Thanksgiving Day saw a 30% jump to nearly $1 billion.

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FINANCE

Walmart ranks Cyber Monday as its biggest online sales day ever

BY Marianne Wilson

San Bruno, Calif. — Walmart said that Cyber Monday 2013 was the biggest online sales day in its history.

The top-selling items at Walmart.com on Cyber Monday included the following:

  • LG 50" 1080p 60Hz LED HDTV
  • Apple iPad 2 16GB with Wi-Fi
  • Fisher-Price Power Wheels Red Ford F150 Raptor 12-Volt Battery-Powered Ride-OnMega Bloks First Builders Build ‘n Learn Table Plus Bonus Play Set
  • TRIO Stealth G2 10.1" Tablet Dual Core with 16GB Memory (mobile top-seller)
  • Tilting Wall Mount for 37" to 70" Flat Panel TVs, with HDMI Cable (mobile top-seller)

"We had an all-time record sales day yesterday as the momentum we saw on Thanksgiving carried through to Cyber Monday," said Joel Anderson, president and CEO, Walmart.com U.S.

The five-day period from Thanksgiving to Cyber Monday is the highest five-day stretch in online sales for the retailer to date, and walmart.com processed more than one billion page views during that period.

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