J.C. Penney is starting 2016 on a positive note following a solid jump in comparable store sales for the 2015 holiday season.
On Thursday, the Plano, TX-based department store said comps for the combined nine-week period in November and December were up 3.9%. The company also reaffirmed its full-year adjusted EBITDA target of $645 million and plans to generate positive free cash flow in fiscal 2015.
“Despite unprecedented warm weather that significantly affected apparel sales across the company, our focus on private brands, enhanced omnichannel execution and compelling gift giving selection resulted in strong holiday sales,” said Marvin Ellison, chief executive officer of J.C. Penney. “I am especially pleased with the accelerated comp sales improvement from November to December, including record online sales for the company during the holiday season.”
Ellison said the company’s strengthened omnichannel capabilities enabled its supply chain to process millions of jcp.com orders this season, supported by 250 stores across the country that helped fulfill online orders using in-store inventory.
“With this level of selection, we saw more online customers take advantage of our in-store pick up option available at more than 1,000 J.C. Penney stores nationwide,” he added.
J.C. Penney will report its fourth quarter and fiscal 2015 results on February 26.