Brighter Days For Penney, Dillard's, Kohl's and Nordstrom

Several leading retailers turned in solid sales and earnings for the second quarter, providing more evidence not just that shoppers are buying a little more, but that stores are learning to woo them more profitably.

JCPenney swung back into the black, with net income of $14 million for the second quarter, compared to its break-even results last year. Sales declined 0.1% to $3.94 billion, although on a same-store basis, they eked out a 1% gain.

"Our focus on operating excellence allowed us to deliver improved profitability in the first half," Myron E. (Mike) Ullman, III, chairman and chief executive officer, says in a release. "Moreover, since the beginning of the year, we have been making changes in our merchandise assortments, introducing new brands and offering better style than ever before, in order to increase top line sales." He says back-to-school is off to a strong start so far, fueled by new private-label brands, including Uproar, Supergirl by Nastia, and Olsenboye. The Plano, Tex.-based chain also says it opened an additional 22 Sephora stores, bringing its beauty boutiques to 215.

Next story loading loading..

Discover Our Publications