Iconic retailer JC Penney (JCP), global leader in producing news of economic underachievement and intramural drama, is showing some signs of improvement.
The slowdown of same store sales has itself slowed, to about 4 percent. And cyber-sales at JCP.com is up 19 percent in the third-quarter. Its investors apparently an easily inspired crowd, JCP saw its stock lift 7.4% to $8.24.
CEO Mike Ullman gushed: “Reconnecting with our customers and getting them into our stores is a top priority. Over the last six months, we have made significant strides and are now seeing positive signs in many important areas of the business, in spite of what continues to be a difficult environment for consumers and retailers in general.”