J.C. Penney's Holiday Sales Jump

RAPAPORT... J.C. Penney saw a 3.4% increase in comparable-store sales - those at branches open forat least a year - during the holiday period, led primarily by strongperformances in the home, beauty and fine-jewelry sectors.The figures were for the nine weeks that ended December 30. In October, the retailer revamped its jewelry department,adding a line of smart watches and rebranding its wedding- and engagement-ring offeringto improve shoppers' buying experience. "We are very encouraged with our overall [comparable]sales performance during the holiday season," company chairman and CEO Marvin Ellison said Thursday. "We are also pleased by our e-commerce business that continuesto outpace prior-year results with double-digit sales growth, largely driven bysought-after gifting categories such as fine jewelry, home d?(C)cor and luggage,toys, boots and athletic footwear." The increase followeda 1.7% rise in comparable sales for the third fiscal quarter, which endedOctober 28.Meanwhile, Macy's comparable sales increased 1% year on yearduring the November-December period, with fine jewelry among the departmentsrecording the highest sales.Image: J.C. Penney