JCPenney Sees Momentum Entering Holiday Season

JCPenney, which has been slowing its rate of declines, is experiencing “a year of resurgence.”

So said Michelle Wlazlo, Penney’s chief executive officer, during a press briefing Oct. 21 on the department store’s holiday agenda.

The frequency of customers shopping Penney’s has increased every month for 15 consecutive months, Wlazlo said, adding that bestselling categories recently have been beauty, with double-digit growth this year, while home and fine jewelry have had “strong performances.”

“Based on industry forecasts, we’re aiming for results that are at or above last year’s performance, but we’re staying agile to respond to whatever the season brings,” Penney’s indicated to WWD via an email exchange following the press briefing. “While the current economic environment remains unpredictable, we remain optimistic about the holiday season. We’ve seen strong momentum throughout the year, and we believe JCPenney is well positioned to meet our customers’ needs with compelling value and promotions.”

Asked whether prices are up, down or flat with a year ago, Penney’s responded, “We are intentionally holding pricing flat in key products for the holiday season, but beyond that, our supplier relationships and strong operations enable us to stay very competitive and make decisions in favor of our customers.”

Regarding what’s expected to be key for holiday, “Sweaters and skirt combos is the actual dress up outfit of the season,” Wlazlo said, while singling out some Penney’s exclusive lines — Mackie Bob Mackie, Shaquille O’Neal, RM Rebecca Minkoff and Martha Stewart Holiday Entertaining collections, as well as the Ashley Graham plus-size line. She also highlighted some national brands, including Nike, Adidas, Puma, Izod, Levi’s, Van Heusen, Gloria Vanderbilt and Alfred Dunner.

Cited as key categories for this holiday were “cozy apparel” such as sweaters, denim, and pajamas; Distant Lands candles; trending kitchen appliances from Ninja and Cuisinart; toys and gadgets from Nintendo, Disney and Lego; beauty, particularly fragrance; lab-grown and natural diamonds; Bulova and Citizen watches; trending gold pieces; gift cards for cuts, color and facials at Penney’s salons; snow globes; textured pillows, and bedding.

Officials said the holiday campaign follows a similar timeline to last year. JCPenney’s Black Friday Early Access program starts Nov. 8, like last year, with incentives such as the Golden Tote with a $25 purchase, and a “Season of Savings” coupon book. Penney’s “daily deals” begin Nov. 10 and run periodically through the season.

“Every week, every day, we will have incredible value but the best deals will be on Black Friday,” Wlazlo said. “Twenty-five percent of the Black Friday deal assortment are brand new items, and on top of that, we’re holding Black Friday prices flat on around 60 percent of comparable items,” including from Penney’s private brand St. John’s Bay cable-knit sweaters for $9.99, men’s flannel shirts for $11.99, and women’s boots starting at $19.99.

“Men’s is very important for us in [the fourth quarter],” Wlazlo said. “Men’s is our number-one division in December. [Year-round,] men’s is quite close to the revenue of our women’s business.”

Officials said 25 percent of Penney’s Black Friday deal assortment is new this year, reflecting expanded exclusives from Ashley Graham, RM Rebecca Minkoff and others, as well as some new national and emerging brands, and a bigger gifting selection across apparel, home, beauty and toys.

“We recognize that many Americans are more stressed than ever about holiday spending. Wallets are stretched, costs are compounding and the pressure to do it all is real,” said Marisa Thalberg, chief customer and marketing officer of Catalyst Brands, which encompasses Penney’s, Brooks Brothers, Aéropostale, Eddie Bauer, Lucky Brand and Nautica, and is a partnership of Authentic Brands Group, Simon Property Group and Brookfield. Catalyst was formed in 2025 by merging the SPARC Group and Penney’s to help save costs and achieve synergies.

For the second quarter, Penney’s was in the black, with $110 million in net income, compared to a $33 million loss in the year-ago period. Consolidated adjusted EBITDA reached $179 million, versus $29 million in the year-ago period. Net sales were about $1.4 billion, a 3.4 percent year-over-year decline, but not as bad as previous steeper declines.

Penney’s is kicking off the holidays with the debut of the first official iHeartRadio Jingle Ball fashion lineup, launching Tuesday, created in partnership with iHeartRadio’s holiday concert series. Penney’s indicated that its iHeartRadio Jingle Ball x JCPenney Collection is multigenerational and offers 29 pieces including sequined tops, party sweaters, faux leather skirts, fur jackets and “holiday glam” styles through December leading up to the the concerts. Also, there is a “receipt-to-access” sweepstakes for tickets to iHeartRadio Z100’s Jingle Ball in New York. Customers can turn JCPenney receipts into a chance to win access, including travel, JCPenney gift cards and more by uploading a photo of the receipt from a $25 or more purchase to iheartradio.com/JCPjingleball for a shot at winning VIP iHeartRadio Jingle Ball tickets.

The retailer’s “It’s What They Thought That Counts” holiday campaign emerges through TV and social ads beginning Sunday.