Plano, TX, July 6, 2006--J.C. Penney Thursday its June sales at department stores open at least a year rose 4.3 percent, and it raised its second-quarter earnings forecast.
Analysts, on average, had been expecting a same-store sales increase of 3.5 percent, according to a Reuters survey.
The Plano, Texas-based company said total department store sales rose 5 percent to $1.39 billion in the five weeks ended July 1, while catalog and Internet sales were up 6 percent to $229 million.
The retailer had forecast a slight increase in June same-store sales, given the strength a year earlier, when comparable department store sales rose 7.4 percent.
For its second quarter, J.C. Penney said it now expects earnings from continuing operations of about 65 cents per share, up 3 cents from its previous forecast.
