J. C. Penney Co. Inc. reported net income of $234 million for the third quarter, up 57% from $149 million last year.
The Plano, TX firm reported that catalog and Internet sales were off 0.9% in the quarter ended Oct. 29, compared to a 3.6% increase last year.
The cataloger and retailer reported total net sales of $4.5 billion for the quarter, up 2% from $4.4 billion last year.
“We are pleased with our operating performance during the course of 2005, especially in the third quarter, which was a very challenging retail environment,” said CEO Myron E. Ullman, III in a statement.
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