J.C. Penney faces low sales

J.C. Penney faces low sales

Sale of jewellery dipped in Q4

J.C. Penney encountered sales decline by 4.1% to $6.4 billion during the fourth quarter ended February 2, 2008. The slow sale of fine jewellery was partly attributed to this. The net profit also dipped by 10% to $430 million. The company mentions a conservative approach in business plans to maintain a balance between near-term economic realities and long-term growth opportunities. The store will stress on improving the customer experience at the stores with improved merchandising and smart prices.

http://www.diamondworld.net/newsroom/news.asp?newsid=2024