PLANO, Texas (Oct. 13, 2014) – The Board of Directors of J. C. Penney Company, Inc. (NYSE: JCP) today announced the appointment of Marvin Ellison, currently executive vice president of stores at Home Depot, as President and CEO-Designee, effective November 1, 2014. Mr. Ellison will also join the Board of Directors. He will then succeed Myron E. (Mike) Ullman, III as CEO of JCPenney on August 1, 2015. At that time, Mr. Ullman will become Executive Chairman of the Board for a period of one...
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PLANO, Texas (Oct. 8, 2014) – At its 2014 analyst meeting in New York City today, J. C. Penney Company, Inc. (NYSE: JCP) presented its plans for restoring sustainable profitable growth at the Company over the next three years. “JCPenney is in a far stronger position today than it was when we began our turnaround effort 18 months ago. While we recognize that there’s more work to be done in a highly competitive retail environment, I couldn’t be more encouraged by the significant...
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PLANO, Texas (Oct. 8, 2014) – J. C. Penney Company, Inc. (NYSE:JCP) today announced that B. Craig Owens, a highly accomplished and respected executive in the consumer food and beverage industry, has been elected to its Board of Directors. Mr. Owens recently retired from his post as chief financial officer and chief administrative officer of Campbell Soup Company, where he led its finance, supply chain and information technology organizations. "During his 33 year career in the consumer...
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PLANO, Texas (October 7, 2014) – J. C. Penney Company, Inc. (NYSE: JCP) (the “Company”), as co-obligor on the Securities (as defined below), and J. C. Penney Corporation, Inc., a wholly owned subsidiary of the Company, as issuer of the Securities (together with the Company, “J. C. Penney”), announced today the expiration and final results of J. C. Penney’s previously announced cash tender offers (collectively, the “Tender Offers”) for up to $325,000,000 aggregate principal...
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PLANO, Texas – Oct. 2, 2014 – J. C. Penney Company, Inc. (NYSE: JCP) will host an analyst meeting with executive leadership on Wednesday, Oct. 8, 2014. Chief Executive Officer Myron E. (Mike) Ullman, III, will open the event at approximately 8:00 a.m. (EDT), followed by leadership presentations that will address the Company’s key strategies and initiatives. Following a Q&A session, the program will conclude with an optional tour of the newly opened Brooklyn store. Presentations and...
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PLANO, TX – (Oct. 1, 2014) – In support of Breast Cancer Awareness Month, JCPenney is inviting its customers to “Give Breast Cancer the Boot” this October by rounding up their purchases to the nearest dollar and donating the difference to JCPenney Cares. Customer contributions donated to JCPenney Cares will directly fund programs focused on breast cancer education, research, prevention and early detection. JCPenney Cares partners include The Breast Cancer Research Foundation®...
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PLANO, Texas - (Sept. 22, 2014) – J. C. Penney Company, Inc. (NYSE: JCP) (the “Company”) and J. C. Penney Corporation, Inc., a wholly owned subsidiary of the Company (together with the Company, “J. C. Penney”), announced that, pursuant to J. C. Penney’s previously announced cash tender offers (collectively, the “Tender Offers”) with respect to the securities described in the table below (collectively, the “Securities”), approximately...
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PLANO, Texas - (Sept. 10, 2014) – J. C. Penney Company, Inc. (the “Company”) (NYSE: JCP) announced today that its wholly owned subsidiary, J. C. Penney Corporation, Inc. (together with the Company, “J. C. Penney”), has upsized and priced its underwritten public offering of $400 million aggregate principal amount of 8.125% senior unsecured notes due 2019, for which the Company will be a co-obligor (the “Notes”). The size of the offering was increased...
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PLANO, Texas (September 9, 2014) – J. C. Penney Company, Inc. (NYSE: JCP) (the “Company”), as co-obligor on the Securities (as defined below), and J. C. Penney Corporation, Inc., a wholly owned subsidiary of the Company, as issuer of the Securities (“JCP”, and together with the Company, “J. C. Penney”), announced today the commencement of cash tender offers (collectively, the “Tender Offers” and, each individually, with respect to a series...
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PLANO, Texas - (September 9, 2014) – J. C. Penney Company, Inc. (the “Company”) (NYSE: JCP) announced today that its wholly owned subsidiary, J . C. Penney Corporation, Inc. (together with the Company, “J. C. Penney”), has commenced an underwritten public offering of $350 million aggregate principal amount of senior unsecured notes, for which the Company would be a co-obligor (the “Notes”), subject to market and other conditions. J. C. Penney intends to...
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JACKSONVILLE, Fla. – (Sept. 2, 2014) – JCPenney today announced the launch of an all-new Sports Fan Shop experience on JCPenney.com that will be powered by Fanatics, the largest online retailer of officially licensed sports merchandise. Fanatics, which operates the e-commerce platform for hundreds of collegiate and professional sports teams, leagues and media sites, will provide fans with an enormous selection of team sports apparel and merchandise at JCPenney.com with over 300,000 licensed...
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Second Quarter Highlights: Same store sales increased 6.0 %; third consecutive quarter of growth Gross margin improved 640 basis points from same quarter last year and 290 basis points sequentially from the first quarter of 2014 SG&A improved $62 million; 410 basis point improvement from last year EBITDA was $90 million; a $342 million improvement from last year Net Income improved 71 % versus same quarter last year Free cash flow was $76 million; a $1.2 billion improvement...
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PLANO, Texas (Aug. 5, 2014) – J. C. Penney Company, Inc. [NYSE: JCP] announced today that it is opening its first-ever store in Brooklyn, further increasing its New York City footprint. Located in phase two of Gateway Center, the all-new store will feature the most sought after collection of brands, as well as unique design elements and innovative features not found in any other JCPenney store. “The new Brooklyn store not only solidifies our presence in New York, it also...
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PLANO, Texas (July 16, 2014) – Underscoring its commitment to fit every shape, size, color, wallet, style and occasion, J. C. Penney Company, Inc. (NYSE:JCP) today announced the launch of a new back-to-school marketing campaign that celebrates self-expression, showing how the perfect fit inspires kids to stand out and feel one-of-a-kind. The campaign kicks off today with two television spots, “Stand Out” and “My Fit,” as well as a Hispanic marketing spot, to...
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PLANO, Texas (June 26, 2014) – Dedicated to fitting the diversity of America with unparalleled style, quality and value, JCPenney is making the shopping experience in the Bronx, N.Y., more exciting than ever. The JCPenney at Bay Plaza Mall, which originally opened in 1997, is undergoing an extensive six-month renovation to create a shopping environment that mimics the look and feel of a brand new JCPenney store. “At JCPenney, we’re not only committed to fitting the shapes, sizes,...
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NEW YORK, NY (June 12, 2014) – Beauty seekers across the country have reason to celebrate. Sephora, the ultimate beauty destination and JCPenney, one of America’s leading retailers, are opening 13 new locations inside JCPenney department stores on Friday, June 27th. The first 100 clients to show up at each grand opening will dip into our stash of Sephora inside JCPenney gift cards with mystery values worth up to $100! Plus, Sephora is giving away 750 gift bags stuffed with fabulous...
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PLANO, Texas – (May 21, 2014) – In accordance with the New York Stock Exchange rules regarding equity inducement awards, J. C. Penney Company, Inc. (NYSE: JCP) announced that on May 20, 2014, an equity inducement award of 223,964 restricted stock units (RSUs) was granted to Edward Record, the Company’s Executive Vice President and Chief Financial Officer, in connection with the commencement of his employment. The Company previously disclosed these awards in connection with...
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First Quarter Highlights: • Same store sales increase 6.2%, exceeding guidance; second consecutive quarter of growth • Gross margin improved 230 basis points from same quarter last year • SG&A savings of $69 million; 490 basis point improvement from last year • New upsized credit facility further strengthens Company’s financial position • Opened 30 new Sephora inside JCPenney locations, bringing total to 476 PLANO, Texas - (May 15, 2014) - J. C. Penney Company, Inc....
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PLANO, Texas – (Apr. 29, 2014) – J. C. Penney Company, Inc. (NYSE: JCP) announced today that it will release its first quarter 2014 financial results on Thursday, May 15 at 4:00 p.m. ET, followed by a live conference call and webcast conducted by Chief Executive Officer Mike Ullman and Chief Financial Officer Ed Record that will begin at 4:30 p.m. ET. To access the conference call, please dial (866) 318-8612, or (617) 399-5131 for international callers, and reference 73921680...
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PLANO, TX – (Apr. 7, 2014) – JCPenney (NYSE: JCP) and legendary supermodel Elle Macpherson are taking the plunge this spring to introduce an exclusive new lingerie brand, THE BODY by Elle Macpherson Intimates™. Coinciding with the launch, JCPenney is creating an elevated shopping experience in lingerie by adding certified bra-fit specialists, enhancing its visual presentation and offering an alluring collection of bras, panties and shapewear from national and private brands...
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Fourth Quarter Turnaround Highlights Solid progress despite challenging retail environmentSame store sales up 2.0 % from last year; 680 basis points over the third quarterHoliday sales up 3.1 % for the November/December periodSales on jcp.com grew 26.3 % for the quarter, excluding the 53rd weekGenerated positive free cash flow of $246 millionGross margin improved 460 basis points from last yearSG&A savings of $205 million for the quarter, and $392 million for the yearEnded year with total...
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PLANO, Texas – (Feb. 20, 2014) – J. C. Penney Company, Inc. (NYSE: JCP) announced today that it will release its fourth quarter and full year 2013 financial results on Wednesday, February 26 at 4:00 p.m. ET, followed by a live conference call and webcast conducted by Chief Executive Officer Mike Ullman and Chief Financial Officer Ken Hannah that will begin at 4:30 p.m. ET. To access the conference call, please dial (877) 299-4454, or (617) 597-5447 for international callers, and...
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Plano, Texas – (Feb. 13, 2014) – J. C. Penney Company, Inc. (NYSE: JCP) today announced that Ed Record has been named executive vice president and chief financial officer, effective March 24, 2014. He will succeed Ken Hannah, who will remain chief financial officer through that date to ensure a smooth transition. As chief financial officer, Record will be responsible for the financial operations of the Company. He will report to Myron E. (Mike) Ullman, III, chief executive...
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PLANO, Texas (Feb. 6, 2014) – JCPenney announced today that it has entered into a new partnership to develop the vacant land around its Plano, Texas home office in the Legacy Business Park. The new partnership will be managed by Team Legacy, a venture of the Karahan Companies, Columbus Realty, and KDC. The new project, Legacy West, consists of 240 acres at the southwest corner of the Dallas North Tollway and State Highway 121, and is considered a prime office and mixed-use development...
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