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JC Penney Remains Positive Despite Negative Analysis

In response to inquiries, JCPenney said today that it is pleased with its progress thus far in the company’s turnaround efforts and the traction its initiatives are starting to achieve. Moreover, the company said it is starting to see greater predictability in its performance across many areas.

JC Penney also stated that it continues to be encouraged by improvements in purchase conversion both in store and on, primarily due to being back in stock in key items and sizes the customer expects to find at JCPenney. Overall sales on continue to trend double digits ahead of last year, according to the company.

JC Penney still anticipates it will experience positive comparable store sales trends coming out of the third quarter and throughout the fourth quarter of 2013.