J.C. Penney sees 1Q catalog sales falling 25%

Plano, TX—On April 16, General merchandise cataloger/retailer J.C. Penney (NYSE:JCP) told analysts at its headquarters that it expects catalog sales to fall 25% in the first quarter, with that decline leveling off to 10%-13% by the end of the year. Penney expects comparable store sales for the quarter to rise 5% to 6%.

J.C. Penney’s first quarter ends April 27; the marketer will report full financial results for the quarter on May 14. For its fourth quarter ended Jan. 26, total department store and catalog sales fell 3%, to $5.8 billion, compared with $6.1 billion in quarterly sales a year earlier. Catalog sales decreased 25%.