JCPenney, Dillard's Report Strong Earnings

  • May 17, 2010
Department stores continued to put up strong results, with profits up smartly at JCPenney and Dillard's. JCPenney says its net income for the first quarter rose 140% to $60 million, compared to $25 million last year.

Total sales increased 1.2%, and comparable-store sales increased 1.3%, leading the Plano, Tex.-based chain to raise its financial forecast for the year.

And Dillard's says its net income rose to $48.8 million, compared to $7.7 million in the same period a year ago. And while total sales declined slightly to $1.45 billion, comparable-store sales for the Little Rock, Ark.-based chain rose 2%.--Sarah Mahoney

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