while sales improve

Plano based Penney reported a loss of $59 million, or 19 cents a share in the quarter ended Jan. 31, compared with a profit of $35 million, or 11 cents a share, a year ago.Comparable store sales increased 4.4 percent. Total sales increased 2.9 percent to $3.89 billion from $3.78 billion a year ago. Online sales were $428 million for the quarter, up 12.5 percent versus the same period last year.Penney reported results after the market closes Thursday.Analysts surveyed by Thomson Reuters expected Penney to report a fourth quarter profit of 11 cents a share on a sales increase of 2.2 percent. cheap nhl jerseys In early January, Penney said its combined November wholesale jerseys china and December sales increased 3.7 percent from a year ago.CEO Mike cheap nfl jerseys Ullman called out cheap nfl jerseys the quarter’s positives: the company grew sales and gross margin and delivered the promised positive free cash flow, which represents a $2.8 billion improvement from a year ago. Men’s apparel, home and fine jewelry were the company’s top performing merchandise divisions during the quarter. Penney, now in 492 locations, also continued its strong performance.While still historically low, Penney’s stock price has gained more than 35 percent this year. Shares were up 13 cents Thursday to close at $9.12, but were trading lower in the aftermarket.The fourth quarter was the first for Penney president Marvin Ellison, who is taking over the CEO position from Ullman in August. Ullman then becomes chairman.Penney plans to close 40 stores this year by early April. Most of the stores are in malls and haven’t shown signs of turning around. Only one Penney store is closing in Texas, at Market Square Mall in Brenham.Articles Connexes：