JC Penney reported combined catalog and Internet sales decreased 1.1%, although Internet sales rose more than 30% for July, according to wire service reports.
The Plano, TX firm said that same-store sales rose 8.1% from a year earlier and said profit margins had improved. Sales at stores open at least one year rose 7.1 for the second quarter. The company attributed this to strong early back-to-school sales.
The cataloger and retailer also said it expects to report operating profits of 21 cents to 23 cents per share for the second quarter
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