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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Plano, Texas – (Feb. 4, 2014) – J. C. Penney Company, Inc. (NYSE: JCP) (the "Company") today provided a preliminary update on its sales performance during the holiday and fiscal fourth quarter periods. For the combined, nine-week November and December period, the Company reported comparable store sales growth of 3.1 percent over the same period last year. For the full quarter, comparable store sales – which exclude the 53rd week of fiscal 2012 – rose approximately 2.0...
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Plano, Texas (Jan. 28, 2014) – J. C. Penney Company, Inc. (NYSE: JCP) (the "Company") today announced that its Board of Directors has acted to protect the Company's valuable net operating loss carryforwards ("NOLs") by amending and extending the Company's existing stockholder rights plan. The Company has over $2 billion in NOLs, which can be used in certain circumstances to offset future taxable income and reduce federal income tax liability. The Company's ability to use its NOLs...
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PLANO, TX – (Jan. 22, 2014) – JCPenney (NYSE: JCP) announced today that it has released its 2013 Sustainability Report, detailing activities in fiscal year 2012, which ended February 2013. The report highlights strategic initiatives to reduce the Company's environmental impact and encourage positive social change. "JCPenney has recently experienced a time of transition and change, but we've never lost our focus on the importance of being socially and environmentally...
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PLANO, TX – (Jan. 15, 2014) – J. C. Penney Company, Inc. (NYSE:JCP) today announced that as part of its turnaround efforts, the Company will be closing 33 underperforming stores across the country in order to focus its resources on the Company's highest potential growth opportunities. These actions are expected to result in an annual cost savings of approximately $65 million, beginning in 2014. In connection with this initiative, the Company expects to incur estimated pre-tax...
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PLANO, TX – (Jan. 8, 2014) – JCPenney reported today that the Company is pleased with its performance for the holiday period, showing continued progress in its turnaround efforts. Customers responded well to the Company’s offerings this holiday shopping season, both in store and online. JCPenney also reaffirmed its outlook for the fourth quarter of 2013, as previously set out in the Company’s third quarter earnings release dated Nov. 20, 2013. Media Relations: (972)...
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COLORADO SPRINGS, Colo. (January 2, 2014) – The United States Olympic Committee (USOC) is teaming up with JCPenney as part of the retailer's charitable giving program, JCPenney Cares. Throughout the month of January, JCPenney customers can round up their in-store or jcp.com purchases to the nearest whole dollar and donate the difference to the USOC, providing America's elite athletes with the resources they need to be successful on the biggest stage in global sports, the Olympic and...
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