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Dec 3 J.C. Penney Co Inc said on Tuesday
that comparable-store sales rose in November for the second
straight month, as its aggressive discounts and the return of
some in-house brands brought back shoppers at the start of the
The retailer said comparable sales, including e-commerce and
sales at stores open at least a year, rose 10.1 percent during
the month, which ended with the key Thanksgiving weekend period,
in the latest sign its turnaround is continuing.
J.C. Penney shares rose 5.1 percent to $10.63 in after-hours
It was the second straight monthly comparable-store sales
gain for the struggling U.S. department store chain after nearly
two years of declines.
Penney attempted in 2012 to go upmarket by ditching sales
events and dropping popular private-label clothing brands like
St. John's Bay and a.n.a, leading to enormous sales losses.
The declines hit their nadir in the holiday quarter a year
ago, when comparable sales fell 31.7 percent, making comparisons
easier this year. Penney did not break out sales by month last
The retailer has brought back the merchandise its longtime
shoppers preferred, and has offered a constant stream of big
bargains to win back shoppers.
Penney said e-commerce sales continued to be strong and were
"well ahead" of last year.
(Reporting by Phil Wahba in New York and Devika Krishna Kumar
in Bangalore; Editing by Jan Paschal)