Drug biz drag on Penney profits Home & Chinni emerge as stars of the third qtr. show

November 2003
Home Textiles Today;11/17/2003, Vol. 25 Issue 12, p1
Trade Publication
This article reports on the role of J.C. Penney Co. Inc.'s Home division in the company's overall financial performance for the third quarter of 2003. According to Charlie Chinni, executive vice president of home, fine jewelry,and family shoes divisions, "Home is doing terrific with overall double-digit increases for the third quarter." During a conference call with analysts discussing the third quarter, Vanessa Castagna, CEO of department stores, catalog and Internet pointed to the improved performance of the catalog/Internet business as well as "a 190-basis point improvement in gross margin, better education and more experience in centralized operations" as other contributing factors to the department stores' increased business.


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