J. C. Penney Co. Inc. posted net income of $238 million for the first quarter, a 13.3% increase over $210 million last year.
The cataloger and retailer reported total net sales of $4.4 billion for the quarter ended May 5, a 3.1% gain over $4.2 billion in the prior year.
The Plano, TX company reported a 3.6% overall drop in direct sales but and 18% increase in Internet sales for the quarter.
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