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Industry: Email Alert RSS FeedJCPenney - Financial Briefs - income for thrid quarter ended October 26, 2002 - Brief Article
DSN Retailing Today, Nov 25, 2002
JCPenney's new merchandising initiatives seem to be paying off. The Piano, Texas-based retailer reported that its department store, catalog and drug store had a combined net income of $123 million for the third quarter ended Oct. 26, compared to $31 million during the same quarter last year. Sales for the quarter rose 1.9% to 7.87 billion from the previous year.
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Earlier this year, JCPenney began revamping its merchandise offerings at its department stores. Ceo Allen Questrom said the merchandising initiatives are part of "a very complex turnaround effort."
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