Posted: Dec 3, 2013 2:36 PM
Updated: Dec 3, 2013 2:37 PM
PLANO, Texas (AP) J. C. Penney says a key sales measure jumped 10.1 percent in November.
The struggling retailer's stock is up 4.6 percent to $10.57 percent in after-hours trading Tuesday.
Revenue from stores open for at least a year is a closely watched indicator of financial performance because it strips away the impact of recently opened or closed stores. The November figure is critical as it includes the Thanksgiving weekend, traditionally the kickoff to the holiday shopping season.
J.C. Penney said Tuesday that its merchandise and promotions helped boost sales in a competitive retail environment, and it hopes to maintain its momentum through the holiday season.
The retailer also says that its online sales were strong and were running well ahead of last year.