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jcpenney Reports February Sales Results

Thursday, March 3, 2011 8:31 AM


Company Growth Initiatives Drive 6.4% Increase in Comparable Store Sales

PLANO, Texas, March 3, 2011 /PRNewswire/ -- J. C. Penney Company, Inc. (NYSE: JCP) reported today that its comparable store sales for the four-week period ended Feb. 26, 2011, increased 6.4 percent, with all divisions reporting an increase over last year.  Women's apparel and accessories, children's apparel, and fine jewelry reported the strongest results for the month.  Geographically, all regions experienced comparable store sales gains with the northeast and southwest regions delivering the best performances.  Total company sales in February increased 2.7 percent.

(Logo:  http://photos.prnewswire.com/prnh/20110222/DA51975LOGO)

The Company's compelling Valentine's Day gift assortments for all ages, lifestyles, and budgets, fresh spring merchandise and industry-leading customer service drove performance in February.  Top-selling items included fashion jewelry, intimate apparel, bridal jewelry collections under the new Modern Bride™ concept, and the spring collection of Liz Claiborne® apparel and accessories.  The Company's Sephora inside jcpenney beauty boutiques also continued to be a popular destination, and coupled with continued strength in women's accessories and fashion merchandise, reflect the success of the Company's focus on enhancing the center core of its stores.

Continuing the momentum underway at jcp.com, sales were strong throughout the month, increasing 11.8 percent with gains in home, fine jewelry and children's merchandise.  This reflects enhancements to the merchandise mix on jcp.com as well as ongoing improvements to the online shopping experience.


Preliminary February Sales Summary

($ in millions)














Total Company Sales


% Increase/(Decrease)


for period ended


Total Sales


Comp Stores


Feb. 26,


Feb. 27,










2011

2010

2011


2010


2011


2010













4 Weeks

$      1,214


$      1,182


2.7


1.5


6.4


1.2
















Today's Sales Conference Call Recording (8:30 a.m. ET) -- (877) 793-7778    


For further information, contact:


Investor Relations

Kristin Hays and Angelika Torres; (972) 431-5500

jcpinvestorrelations@jcpenney.com



Media Relations

Darcie Brossart (972) 431-3400

jcpcorpcomm@jcpenney.com


Corporate Website

www.jcpenney.net



About J. C. Penney Company, Inc.

J. C. Penney Company, Inc., one of America's leading retailers, operates over 1,100 jcpenney department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com. Serving more than half of America's families each year, the jcpenney brand offers a wide array of private, exclusive and national brands which reflect the Company's vision to be America's shopping destination for discovering great styles at compelling prices. Traded as "JCP" on the New York Stock Exchange, the $17.8 billion retailer is transforming its organization to support its Long Range Plan strategies to build a sustainable, profitable enterprise that serves its customers, engages its associates and rewards its shareholders.  For more information visit, www.jcpenney.net.

This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which reflect the Company's current views of future events and financial performance, involve known and unknown risks and uncertainties that may cause the Company's actual results to be materially different from planned or expected results. Those risks and uncertainties include, but are not limited to, general economic conditions, including inflation, recession, unemployment levels, consumer spending patterns, credit availability and debt levels, changes in store traffic trends, the cost of goods, trade restrictions, changes in tariff, freight and shipping rates, changes in the cost of fuel and other energy and transportation costs, increases in wage and benefit costs, competition and retail industry consolidations, interest rate fluctuations, dollar and other currency valuations, the impact of weather conditions, risks associated with war, an act of terrorism or pandemic, and a systems failure and/or security breach that results in the theft, transfer or unauthorized disclosure of customer, employee or Company information.  Please refer to the Company's most recent Form 10-K and subsequent filings for a further discussion of risks and uncertainties. Investors should take such risks into account when making investment decisions. We do not undertake to update these forward-looking statements as of any future date.

SOURCE J. C. Penney Company, Inc.

(Source: PR Newswire )
(Source: Quotemedia)

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