JCPenney announces leadership appointments

Company initiates personnel actions to streamline job functions and reduce expenses

PLANO, Texas, 2018-Mar-06 — /EPR Retail News/ — J. C. Penney Company, Inc. (NYSE: JCP) today (March 2, 2018) announced the appointment of Joe McFarland as executive vice president and chief customer officer, a newly-expanded role that includes responsibility for merchandising, as well as leading all JCPenney store operations. To ensure the positive momentum of its merchandising transformation, Jodie Johnson has been promoted to head of merchandising for women’s, beauty and family footwear; and James Starke has been promoted to head of merchandising for men’s, children’s, home and jewelry, both reporting to McFarland. Additionally, Therace Risch, will assume the combined titles of Chief Information Officer and Chief Digital Officer to reflect her added responsibility for omnichannel retail. As a result of this appointment, Mike Amend will be leaving the Company.

“Joe, Therace, Jodie and James are remarkable executive leaders who have demonstrated their ability to spearhead critical tasks and drive results and efficiencies along the way. Joe is a dedicated advocate for our associates, and knows first-hand how successful we can be when associates are empowered to deliver the best shopping experience possible. Jodie and James are credited for leading the turnaround of our merchandising strategy, and will continue to advance this effort by delivering the best assortment of style and value offered by any retailer. Appointing both Jodie and James to lead our merchant teams will ensure that we push merchandising decisions closer to the division heads and buyers for increased speed and efficiency. Furthermore, Therace understands the power of technology, and how it can significantly influence and enhance the way consumers shop and ultimately, be the point of differentiation on where they choose to buy,” said Marvin R. Ellison, chairman and chief executive officer for JCPenney. “By merging these critical retail functions under the oversight of four proven leaders, we can better align our operations to ensure every aspect of the business is focused on the customer experience.”

Home Office and Field Actions
As part of ongoing efforts to manage expenses, simplify operations and streamline workload in support of the Company’s long-term growth and profitability, approximately 130 Home Office positions were eliminated across various departments. Additionally, JCPenney recently restructured its group, regional, district and store support teams. This restructure eliminated bureaucracy, reduced support positions and reallocated store headcount to customer-facing positions. While the restructuring enabled the vast majority of impacted associates to assume a new role or leadership position within the stores organization, approximately 230 positions were subsequently eliminated. The annual cost savings generated from the home office and store reorganization are estimated at approximately $20-$25 million.

“As the Company continues to make progress on its strategic framework and implement new processes and organizational efficiencies, it is imperative that we maintain a thoughtful approach to managing expenses, while effectively supporting the needs of the business,” added Ellison. “I would like to thank Mike Amend for his service with the Company and wish him well in his future endeavors. Through his hard work, JCPenney has advanced its omnichannel capabilities, laying the groundwork for further innovation and growth.”

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, combines an expansive footprint of approximately 875 stores across the United States and Puerto Rico with a powerful e-commerce site, jcp.com, to connect with shoppers how, when and where they prefer to shop. At every customer touchpoint, she will get her Penney’s worth of a broad assortment of products from an extensive portfolio of private, exclusive and national brands. Powering this shopping experience is the customer service and warrior spirit of approximately 100,000 associates across the globe, all driving toward the Company’s three strategic priorities of strengthening private brands, becoming a world-class omnichannel retailer and increasing revenue per customer. For additional information, please visit jcp.com.

Forward-Looking Statements
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expect” and similar expressions identify forward-looking statements, which include, but are not limited to, statements regarding sales, cost of goods sold, selling, general and administrative expenses, earnings, cash flows and interest expense. Forward-looking statements are based only on the Company’s current assumptions and views of future events and financial performance. They are subject to known and unknown risks and uncertainties, many of which are outside of the Company’s control 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 confidence and spending patterns, credit availability and debt levels, changes in store traffic trends, the cost of goods, more stringent or costly payment terms and/or the decision by a significant number of vendors not to sell us merchandise on a timely basis or at all, trade restrictions, the ability to monetize assets on acceptable terms, the ability to implement our strategic plan including our omnichannel initiatives, customer acceptance of our strategies, our ability to attract, motivate and retain key executives and other associates, the impact of cost reduction initiatives, our ability to generate or maintain liquidity, implementation of new systems and platforms, changes in tariff, freight and shipping rates, changes in the cost of fuel and other energy and transportation costs, disruptions and congestion at ports through which we import goods, 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, the ability of the federal government to fund and conduct its operations, a systems failure and/or security breach that results in the theft, transfer or unauthorized disclosure of customer, employee or Company information, legal and regulatory proceedings and the Company’s ability to access the debt or equity markets on favorable terms or at all. There can be no assurances that the Company will achieve expected results, and actual results may be materially less than expectations. Please refer to the Company’s most recent Form 10-Q for a further discussion of risks and uncertainties. Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We do not undertake to update these forward-looking statements as of any future date.

Media Relations:
(972) 431-3400
jcpnews@jcp.com
follow us at @jcpnews on Twitter.

Investor Relations:
(972) 431-5500
jcpinvestorrelations@jcpenney.com

Source: J. C. Penney Company, Inc.

JCPenney launches collection of JoJo Siwa apparel

JCPenney launches collection of JoJo Siwa appare

Company appeals to “Siwanatorz” with a bright and colorful selection of apparel, bedding and bows promoting Siwa’s positive, anti-bullying outlook

PLANO, Texas, 2018-Feb-27 — /EPR Retail News/ — JCPenney (NYSE: JCP) is joining the JoJo Siwa craze and launching a line of licensed apparel dedicated to the 14-year-old Nickelodeon star and social media sensation. Available now at JCPenney.com and in 600 stores beginning March 2, girls will find a curated collection of tops, dresses, jackets and leggings exclusively designed for JCPenney, featuring Siwa’s love of inspirational messages, bows, emojis and the color pink. Fans, dubbed “Siwanatorz” by the popular teen herself, will also find JoJo Siwa-inspired bedding and her signature oversize hair bows, which have become a symbol of confidence for young girls.

“JCPenney introduced JoJo’s trademark hair bows to its girls’ assortment last fall and we were blown away by the response. By creating a comprehensive destination for specially-designed JoJo Siwa apparel and other related merchandise, JCPenney has an opportunity to reach an entirely new customer who loves her confident and upbeat personality,” said James Starke, senior vice president of merchandising for JCPenney. “This young generation of shoppers holds an unprecedented influence over family purchasing decisions and by bringing brands to JCPenney that appeal to this demographic, we can introduce her, and her family, to our store.”

The collection of JoJo Siwa apparel at JCPenney is inspired by Siwa’s positive messages and incorporates bright colors, sequins and hair bows for young girls, in sizes 4 to 12. Shoppers will find fun, age-appropriate looks including bow-adorned tank tops, pink tutu skirts, ruffle dresses and satin bomber jackets with Siwa’s signature bow print. Sale prices include $15.99 for a sequin pocket tee, $21.99 for leggings and $31.99 for a jean jacket with satin patches. In addition to the retailer’s unique apparel collection, shoppers will also find a robust assortment of JoJo Siwa merchandise, including a hot pink, emoji-decorated comforter set, a bow-shaped decorative pillow, a singing JoJo doll and knee-high bow socks.

“From school to the mall and everywhere in between, girls will feel strong and confident when they are rocking a JoJo outfit,” said JoJo Siwa. “My new styles at JCPenney are fun and colorful and I can’t wait to see girls rocking them.”

Siwa is the star of Nickelodeon’s Lip Sync Battle Shorties, a social media sensation, singer, anti-bullying advocate and New York Times best-selling author. Her YouTube channel, It’s JoJo Siwa, promotes self-confidence and positivity with 5.6 million subscribers. Siwa’s hit music video, Boomerang, boasts more than 500 million views on YouTube and reinforces her messages of inclusion and friendship. She also has 6.6 million followers on Instagram and 15 million fans on Musical.ly.

To download the news release and access product images, please visit: https://www.jcpnewsroom.com/news-releases/2018/0126_launches_jojo_siwa_apparel.html

JCPenney Media Relations:
(972) 431-3400 or jcpnews@jcp.com
Follow @jcpnews on Twitter for the latest announcements and Company information.

About JCPenney:
J. C. Penney Company, Inc. (NYSE: JCP), one of the nation’s largest apparel and home furnishings retailers, combines an expansive footprint of approximately 875 stores across the United States and Puerto Rico with a powerful e-commerce site, jcp.com, to connect with shoppers how, when and where they prefer to shop. At every customer touchpoint, she will get her Penney’s worth of a broad assortment of products from an extensive portfolio of private, exclusive and national brands. Powering this shopping experience is the customer service and warrior spirit of over 100,000 associates across the globe, all driving toward the Company’s three strategic priorities of strengthening private brands, becoming a world-class omnichannel retailer and increasing revenue per customer. For additional information, please visit jcp.com.

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SOURCE:  J.C. Penney Corporation, Inc.

JCPenney launches exclusive new brand inspired by young women who promote a positive body image — Obsess

JCPenney launches exclusive new brand inspired by young women who promote a positive body image — Obsess

 

Olympic gold medalist Laurie Hernandez inspires first Obsess capsule collection for Gen Z girls

PLANO, Texas, 2018-Feb-23 — /EPR Retail News/ — JCPenney (NYSE: JCP) is taking a cue from the digitally-connected, social media-inspired tween generation and launching an exclusive new brand, Obsess, that features rotating capsules inspired by influential young women who promote a positive body image. The brand’s first collection, influenced by Olympic gold medalist Laurie Hernandez, features trendy tops, rompers, dresses and jeans designed for all body types. Obsess will launch at JCPenney.com on Feb. 26, and will be available in 500 JCPenney stores beginning March 2.

“Obsess is a very unique brand that allows JCPenney to reach a generation of girls who move rapidly from one fashion trend to another, as they discover new style inspiration through daily social media feeds. By working with inspiring young women like Laurie Hernandez for unique capsule collections under the Obsess brand, JCPenney is able to offer tween girls the fresh, new styles they crave,” said James Starke, senior vice president of merchandising for JCPenney. “As we focus on driving business to JCPenney, we have an opportunity with Obsess to attract an entirely new, and often elusive, Generation Z customer. Gen Z holds $44 billion* in buying power and is on track to becoming the largest consumer segment over the next few years, representing significant sales growth potential.”

The introductory capsule collection for Obsess is an authentic representation of Hernandez’s style. Tween girls will find casual, yet feminine, looks designed for every shape and size, including cold shoulder, peplum tops, bright floral prints, embroidered jeans and, one of Hernandez’s favorite pieces, a teal bomber jacket with pink flowers on the sleeves. Hernandez was personally involved in the development of this line and approved each piece of the collection. Obsess is available for girls in sizes 7 to 20, including plus sizes, with sale prices ranging from $21.99 for an embroidered, ruffled top to $34.99 for a floral dress.

“My body changes so much between training, travel and down time. Comfort is so important. I wanted to create casual, cool clothes for girls of all shapes,” said Hernandez. “I am so excited to launch my Obsess capsule at JCPenney and help girls feel confident and comfortable.”

Obsess will be available within the JCPenney girls’ department complementing a comprehensive assortment of popular brands, including The Original Arizona Jean Co.®, by&by, Nike® and Levi’s®. With rotating concepts, customers will find an entirely new Obsess collection this summer with a distinct aesthetic and style for back-to-school. The next Obsess celebrity collaboration will be announced later this year.

For video and images of Obsess apparel and Laurie Hernandez, please visit: https://www.jcpnewsroom.com/news-releases/2018/0221_obsess_featuring_laurie_hernandez.html

*IBM Institute for Business Value, Uniquely Generation Z

About JCPenney: 
J. C. Penney Company, Inc. (NYSE: JCP), one of the nation’s largest apparel and home furnishings retailers, combines an expansive footprint of approximately 875 stores across the United States and Puerto Rico with a powerful e-commerce site, jcp.com, to connect with shoppers how, when and where they prefer to shop. At every customer touchpoint, she will get her Penney’s worth of a broad assortment of products from an extensive portfolio of private, exclusive and national brands. Powering this shopping experience is the customer service and warrior spirit of over 100,000 associates across the globe, all driving toward the Company’s three strategic priorities of strengthening private brands, becoming a world-class omnichannel retailer and increasing revenue per customer. For additional information, please visit jcp.com.

JCPenney Media Relations: 
(972) 431-3400
jcpnews@jcp.com
Follow @jcpnews on Twitter for the latest announcements and Company information.

Source: J. C. Penney Company, Inc.

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