Is Sear's gaining ground at Penney's expense?

Footwear News, May, 1996 by MacDonald, Laurie

Sears, Roebuck and Co seems to be improving its financial status at the expense of rival J.C. Penney, as indicated by the latest monthly financial statistics. April 1996 showed Sears' same store sales improve by 10.9% while J.C. Penney's sales decreased by 0.7%. Sears' earnings in the 1st qtr 1996 rose 21.8% to $152 million, and J.C. Penney's earnings fell 9.2% to $142 million.

SEATTLE--Sears' earnings increases and J.C. Penney's modest but steady downward slide are fueling speculation that Sears' growth is coming at Penney's expense.

In April, Sears' same-store-sales climbed 10.9 percent, while its chief rival, J.C. Penney, posted a 0.7 percent slip in same-store-sales. After the two retailers recently disclosed their first-quarter sales and earnings, some...

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