Tag Archives: JCPenney

Posted on by

JCPenney announces 4Q 2017 financial and full year results

  • Fourth Quarter Comparable Sales Increase 2.6%
  • Outstanding Debt Reduced by Over $600 Million in 2017

PLANO, Texas, 2018-Mar-06 — /EPR Retail News/ — J. C. Penney Company, Inc. (NYSE: JCP) today (Mar. 2, 2018) announced financial results for its fiscal fourth quarter and full year ended Feb. 3, 2018. Comparable sales increased 2.6 % for the fourth quarter and increased 0.1 % for full year 2017. Fourth quarter earnings per share was $0.81 and full year net loss per share was ($0.37). Fourth quarter adjusted earnings per share was $0.57 and full year adjusted earnings per share was $0.22. A reconciliation of GAAP to non-GAAP financial measures is included in the schedules accompanying the consolidated financial statements in this release.

Marvin R. Ellison, chairman and chief executive officer said, “We are encouraged by our results for the fourth quarter and for fiscal 2017. Through the hard work and dedication of the entire JCPenney team, we delivered our second consecutive year of positive adjusted earnings. For 2017, we improved adjusted earnings per share by 175 %, reduced our outstanding debt levels by over $600 million and generated over $200 million of free cash flow. During the fourth quarter, we delivered our strongest positive sales comps and achieved our largest gross margin improvement for the year. Our fourth quarter gross margin improvement, combined with our continued commitment to expense discipline, helped us generate adjusted earnings per share of $0.57 for the quarter.”

Ellison continued, “In 2018, we will intensify our market share efforts in Appliances, Mattresses and Furniture, while continuing to take steps to modernize our apparel assortment and omni-channel. Our strategy and plan is clear and consistent, and we remain focused on two critical factors – to operate the business for growth and deliver profitable earnings. I would like to thank our nearly 100,000 associates around our company for their hard work and more importantly, for their commitment to JCPenney.”

Fourth Quarter 2017 Results
Total net sales for the 14 weeks ended Feb. 3, 2018 increased 1.8 % to $4.03 billion compared to $3.96 billion for the 13 weeks ended Jan. 28, 2017. Comparable sales increased 2.6 % in the fourth quarter and were on the same 13 week basis as the fourth quarter last year.

Jewelry, Home, Sephora, Footwear and Handbags and Salon were the Company’s top performing divisions during the quarter. Geographically, the Southeast and Gulf Coast were the best performing regions of the country.

Cost of goods sold, which excludes depreciation and amortization, was $2.68 billion, or 66.4 % of sales, compared to $2.65 billion, or 66.9 % of sales in the same period last year. The improvement was primarily driven by decreased promotional activity during the quarter resulting from an improved inventory position. This improvement was partially offset by the continued growth in the Company’s online and major appliance businesses and higher shrink rates.

SG&A expenses were $943 million compared to $925 million for the same period last year. As a percentage of sales, SG&A expenses were 23.4 % and flat compared to last year. Reductions primarily in store controllable costs and marketing spend were partially offset by lower credit income and higher incentive compensation.

Net income was $254 million, or $0.81 per share, compared to net income of $192 million, or $0.61 per share in the same period last year. The improvement was primarily due to a $75 million tax reform benefit recorded in the fourth quarter this year.

Adjusted net income was $179 million, or $0.57 per share, for the fourth quarter this year. Adjusted net income for the fourth quarter last year was $202 million, or $0.64 per share, which included a gain of $62 million, or $0.20 per share, associated with the sale of the Company’s home office.

Full Year 2017 Results
Total net sales decreased (0.3) % to $12.51 billion compared to $12.55 billion last year. Comparable sales increased 0.1 % for full year 2017. The slight decline in total net sales was primarily due to store closures in 2017, most of which closed in the first half of the year, and was partially offset by incremental sales for the 53rd week.

For the year, cost of goods sold, which excludes depreciation and amortization, was $8.17 billion, or 65.4 % of sales, compared to $8.07 billion, or 64.3 % of sales last year. This increase was primarily driven by the liquidation of both closed store and slow-moving inventory, the continued growth in the Company’s online and major appliance businesses and higher shrink rates.

SG&A expenses declined 2 % or $70 million to $3.47 billion, or 27.7 % of sales, a decrease of 50 basis points as a percentage of sales compared to last year. These savings were primarily driven by reductions in store controllable costs and marketing efficiencies, which were partially offset by lower credit income and higher incentive compensation.

Net loss was ($116) million, or ($0.37) per share, compared to net income of $1 million, or $0.00 per share last year. This reduction was driven primarily by restructuring charges associated with the fiscal 2017 store closures and voluntary early retirement program.

Adjusted net income increased $44 million to $68 million, or $0.22 per share, compared to adjusted net income of $24 million, or $0.08 per share, last year.

Adjusted EBITDA was $972 million compared to $1.01 billion last year.

Inventory at year-end was $2.76 billion, a decrease of 3.2 % compared to last year-end. Capital expenditures for the year, net of landlord allowances, were $375 million. Free cash flow was a positive $213 million for full year 2017, an increase of $210 million versus last year.

Cash and cash equivalents at the end of year were $458 million. During fiscal 2017, the Company reduced its outstanding debt position by over $600 million. The Company ended the fiscal year with liquidity in excess of $2.3 billion.

Outlook
The Company’s 2018 full year guidance is as follows:

  • Comparable store sales: expected to be 0.0 % to 2.0 %; and
  • Adjusted earnings per share1: expected to be $0.05 to $0.25.

1 A reconciliation of non-GAAP forward-looking projections to GAAP financial measures is not available as the nature or amount of potential adjustments, which may be significant, cannot be determined at this time.

Fourth Quarter and Full Year Earnings Conference Call Details

At 8:30 a.m. ET today, the Company will host a live conference call conducted by Chairman and Chief Executive Officer Marvin R. Ellison and Chief Financial Officer Jeffrey Davis. Management will discuss the Company’s performance during the quarter and take questions from participants. To access the conference call, please dial (844) 243-9275, or (225) 283-0394 for international callers, and reference 6887218 conference ID or visit the Company’s investor relations website at http://ir.jcpenney.com. Supplemental slides will be available on the Company’s investor relations website approximately 10 minutes before the start of the conference call.

Telephone playback will be available for seven days beginning approximately two hours after the conclusion of the conference call by dialing (855) 859-2056, or (404) 537-3406 for international callers, and referencing 6887218 conference ID.

Investors and others should note that we currently announce material information using SEC filings, press releases, public conference calls and webcasts.  In the future, we will continue to use these channels to distribute material information about the Company and may also utilize our website and/or various social media to communicate important information about the Company, key personnel, new brands and services, trends, new marketing campaigns, corporate initiatives and other matters. Information that we post on our website or on social media channels could be deemed material; therefore, we encourage investors, the media, our customers, business partners and others interested in our Company to review the information we post on our website as well as the following social media channels:

Facebook (https://www.facebook.com/jcp) and Twitter (https://twitter.com/jcpnews).

Any updates to the list of social media channels we may use to communicate material information will be posted on the Investor Relations page of the Company’s website at www.jcpenney.com.

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 @jcpnews

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

Source: J. C. Penney Company, Inc.

Posted on by

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.

Posted on by

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.

###

SOURCE:  J.C. Penney Corporation, Inc.

Posted on by

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.

###

Posted on by

JCPenney highlights its sustainability and community efforts in its 2017 Corporate Social Responsibility Report

PLANO, Texas, 2017-Nov-09 — /EPR Retail News/ — JCPenney announced today (Nov. 8, 2017)  the release of its 2017 Corporate Social Responsibility Report, highlighting the Company’s sustainability and community efforts across its operations worldwide. The report, which details activities for fiscal years 2015 and 2016, illustrates the Company’s ongoing commitment to the highest level of corporate citizenship.

For the 2017 report, JCPenney partnered with Texas A&M University’s 180 Degrees Consulting group to learn the latest stakeholder expectations for CSR reporting. A team of six students from the group performed analysis to identify industry standards when reporting CSR data, and made suggestions to the Company based upon their findings. The group’s key recommendations drove the initial ideation of, and inspiration behind, the framework of the 2017 report, which summarizes each Company commitment using four pillars: our people, our communities, our products and our planet.

“The Golden Rule has guided every customer interaction at JCPenney for over a century, and we understand the importance of applying a similar ideology to our global efforts in social responsibility and environmental sustainability,” said Marvin R. Ellison, chairman and chief executive officer at JCPenney. “We recognize the important role we play in being a responsible employer, neighbor and community advocate, and acknowledge the significance of positively connecting with younger consumers who share these values.”

The online report outlines Company achievements in a variety of categories, including:

  • Diverse Workforce – As of 2016, more than half of the JCPenney associate population are minorities, and the progression is positively represented at all levels within the Company, including the executive team. In fact, Ellison is one of only five African-American CEO’s in the Fortune 500. Moreover, from 2013 to 2016, the percentage of ethnic minorities employed at JCPenney increased from 46 percent to 51 percent, and women have represented 80% of the total associate base since 2013.
  • Community Relations – In 2015 and 2016, JCPenney associates logged more than 67,700 volunteer hours, donating their time and skills to benefit local non-profit organizations. Associates also completed more than 800 volunteer projects in support of National Volunteer month within the same period. What’s more, through the Company’s “Change for the Better” giving campaign, JCPenney associates gave more than $3.5 million to 6,200 local non-profits across the country.
  • Responsible and Ethical Sourcing – J. C. Penney Purchasing Corporation (JCPPC) is one of the largest and most experienced importers of textiles and apparel in the United States, enabling JCPenney to purchase merchandise from nearly 2,600 domestic and foreign suppliers. The Company’s Social and Environmental Responsibility teams – located in buying and quality assurance offices around the world – work with an industry-leading third-party auditor to conduct compliance audits of factories producing JCPenney private brand apparel. In fiscal years 2015 and 2016, our third-party provider conducted over 2,000 social audits, and, in 2016, we extended this effort to include textile mills, completing over 100 assessments to help improve mill conditions.
  • Energy Conservation – In 2015, JCPenney set an aggressive energy and greenhouse gas emissions goal to reduce Scope 1 and Scope 2 greenhouse gas emissions per sq. ft. 15 percent by 2020. Just two years into the journey, JCPenney surpassed the goal by reducing emissions 19.6 percent, a decrease driven largely by behavior change and a robust Company-wide energy management system utilized in nearly 840 stores. As part of its ongoing energy management efforts, JCPenney continues a long-standing partnership with the U.S. Department of Energy’s ENERGY STARTM program. The Company has received ENERGY STAR’s Partner of the Year, Sustained Excellence designation for ten consecutive years, and proudly displays the ENERGY STAR logo at over 650 ENERGY STAR certified buildings throughout the Company.
  • Responsible Recycling – JCPenney is making efforts to significantly reduce waste by recycling 85% of the Company’s annual domestic waste by 2020. Through this promise, JCPenney has increased its recycling rate to 80 percent in 2016, up nine percent since 2014. Plus, the Company recycled 74,000 tons of waste in 2016 alone, while decreasing waste to landfill by 5,000 tons from 2014 to 2016. Furthermore, in 2015 and 2016, JCPenney recycled approximately 147,000 tons of waste, which equals approximately 80 percent of total waste from the Company’s operations.

Ongoing Ambitions
In 2015, JCPenney adopted a goal to reduce total water consumption across U.S. operations five percent by 2020 (2014 baseline). The Company is making strong progress toward the goal through a combination of engineered solutions and behavior change. As a result of these efforts, JCPenney has reduced domestic (in-store) water consumption by 12 percent from 2012 to 2016, and reduced landscape irrigation during the same time period by 66 percent.

For more information, please review the 2017 Corporate Sustainability Report by visiting the Company Info page under the Corporate Overview section of jcpenney.com.

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.

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

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

Source: J. C. Penney Company, Inc.

Posted on by

JCPenney to open its doors at 2 p.m. on Thanksgiving Day for its annual Black Friday sale

  • Stores Open at 2 p.m. on Thanksgiving Day for Black Friday Shopping
  • JCPenney Beckons Black Friday Bargain Hunters With Coupon Giveaways up to $500 off and Amazing Deals on TV’s, Toys, Smart Home Tech, Beauty, Diamonds, Smart Watches, Boots and More

PLANO, Texas, 2017-Nov-07 — /EPR Retail News/ — This season, JCPenney is inviting shoppers to take “The JCPenney Holiday Challenge” and get everything on their list for less than they think. Through its engaging marketing campaign, JCPenney will showcase its assortment of unique, must-have gifts at amazing prices, such as 55” and 65” high definition televisions from Samsung and LG, Playstation 4 consoles, Google Home devices, Samsung SmartThings products and toys from LEGO®, Star Wars™, Barbie®, Melissa & Doug® and more, inspiring shoppers to rediscover JCPenney as the ultimate holiday shopping destination.

“We are stepping up our game when it comes to showcasing the breadth of newness, excitement and value within our gift assortment this year, proving that if shoppers go to JCPenney looking for a special gift, they will come out finding so much more,” said Marci Grebstein, chief marketing officer for JCPenney. “By leveraging this key shopping period, we are looking to surprise holiday shoppers with the level of relevant merchandise available at JCPenney, updating their perception of our brand this season and beyond.”

The Ultimate Savings Challenge: The Annual JCPenney Black Friday Sale
JCPenney will open its doors at 2 p.m. on Thanksgiving Day for its annual Black Friday sale. For customers who wish to get a head start on their holiday shopping, Black Friday sale prices will be available at jcpenney.com four days earlier, beginning Sunday, Nov. 19. For shoppers who cannot wait for the Company’s Black Friday sale, JCPenney will host a “Black Friday Prices Now” sale from Nov. 16-18, offering Black Friday prices on select items within pajamas, towels, cookware, jewelry and accessories.

When stores open on Thanksgiving Day, early shoppers will be greeted with an envelope containing a coupon worth $10 off $10, $100 off $100 or $500 off $500 or more purchase, while supplies last. Coupons are valid for use in stores only starting on Thanksgiving Day. Stores will continue to remain open for the Company’s Black Friday sale until Friday, Nov. 24 at 10 p.m. This year’s Black Friday deals include exciting offers such as:

  • $2.99 Home Expressions® 100 percent cotton towel
  • $4.99 JoJo Siwa hairbows
  • $5 pajama pants for the family
  • $8.99 Disney® Collection medium plush toy
  • $9 Women’s St. John’s Bay® cable sweater with matching $5 St. John’s Bark dog sweater
  • $12.99-$22.99 Liz Claiborne® charging accessories
  • $14.99 wet brush and mini flat iron set
  • $15 and under beauty product deals from Sephora inside JCPenney
  • $19.99 women’s boots
  • $19.99 cooks™ 2.5 L. convection air fryer
  • $20 1/10 CT. T.W. diamond studs or pendant in sterling silver
  • $20 Xersion puffer jacket for him and her
  • $23.09-$39.99 girls’ collectibles Num Noms and Hatchimals
  • $29.99 Skyrider Falcon 2 Pro drone with camera
  • $29.99 kids’ 4D augmented reality and virtual reality kits
  • $39.99 iLive voice activated concierge wireless speaker with Amazon Alexa
  • $39.99 5-pc Protocol® Garrison luggage set
  • $49.99 iTouch smart watch
  • $59.99 Keurig® K55 brewer (after $20 mail in rebate)
  • $79.99 Google Home smart speaker and home assistant
  • $149.99 Samsung SmartThings home monitoring kit
  • $199.99 Playstation4 1TB console
  • $499.99 Samsung 55” class ultra HD 4K smart TV 54.6” diagonal screen
  • $995 Samsung 26 cu. ft. 3-door French-door refrigerator

Following the retailer’s Black Friday sale, the savings continue with the JCPenney Cyber Monday sale from Nov. 25-29, offering over 100,000 deals – twice as many compared to last year – in stores and online at jcpenney.com with free shipping on orders of $25 or more. Store customers on Saturday, Nov. 25 will also be treated to a $10 off $10 or more coupon giveaway while supplies last.

Wow! That’s JCPenney?
Throughout the season, holiday shoppers will discover a surprising selection of gifts at JCPenney this year, from the latest trends in fashion, jewelry, accessories and home décor, including the retailer’s limited-edition exclusive capsule collection, Tracee Ellis Ross for JCPenney, to the hottest products in beauty from Sephora inside JCPenney. Along with its Disney Collection inside JCPenney shop, JCPenney has also added 40 percent more toys and games in store, as well as new electronic categories such as televisions, home audio systems and the season’s coolest tech gadgets along with a selection of smart watches from top brands such as Samsung, LG and Garmin®. In addition to the retailer’s compelling private brands, shoppers can also expect to find leading national brands from Nike® and adidas® to Levi’s®, Kitchenaid® and more.

It’s On!: The JCPenney Holiday Challenge
The Company kicked off its holiday marketing campaign today with the first of five television commercials featuring real holiday shoppers, asking how much they spent last year on holiday gifts, and then inviting them to beat that number with the “JCPenney Holiday Challenge.” Cameras follow along as each person shops, capturing their reactions as they discover the retailer’s inspiring and affordable selection of gifts. The retailer will also air versions of the “JCPenney Holiday Challenge” in Spanish catering to the Hispanic market.

JCPenney will invite customers to share their savings using the #JCPchallenge hashtag and snapping a photo of their shopping haul or the bottom of their JCPenney receipt to show how much they saved. The campaign will be further supported by digital, direct mail and email components, and prints ads in top fashion magazines will highlight the Tracee Ellis Ross for JCPenney collection. Additionally, a dedicated TV spot promoting the Company’s Black Friday sale will air during the NFL’s annual Thanksgiving Day football games – one of the most highly watched events on television.

JCPenney will continue its philanthropic tradition by teaming up with its signature charity partner, the YMCA, to provide giving sprees to underserved families. This year, families affected by the recent hurricanes will receive brand new home appliances, courtesy of LG, Samsung and GE, along with a $5,000 JCPenney shopping spree.

Adding to the spirit of giving, JCPenney will host a holiday relief station backstage at the Nickelodeon HALO Awards 2017 to pack boxes of relief supplies, benefiting Y kids in Puerto Rico. The boxes will include water, batteries, flashlights, backpacks, kids’ pajamas, socks and underwear, along with comfort items such as teddy bears and activity pads. JCPenney is the exclusive retail sponsor of the Nickelodeon HALO Awards premiering Sunday, Nov. 26, at 7 p.m. (ET/PT), across Nickelodeon, TeenNick and Nicktoons.

To download this release or related images and video b-roll footage of JCPenney stores and Black Friday merchandise, please visit: http://jcpnewsroom.com/newsreleases/2017/1106_challenge_holiday_shoppers_to_get_more_for_less.html

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 us at @jcpnews

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

Source: J. C. Penney Company, Inc.

Posted on by

JCPenney adds LEGO building bricks and playsets in its toy shops just in time for the holidays

JCPenney adds LEGO building bricks and playsets in its toy shops just in time for the holidays

Retailer identifies the hottest gifts on Santa’s list, quadruples toy count at JCPenney.com

PLANO, Texas, 2017-Oct-30 — /EPR Retail News/ — The countdown to Christmas is on and JCPenney [NYSE: JCP] is helping Santa check off the best gifts on his list, starting with childhood-favorite LEGO® toys. Beginning in November, JCPenney will offer LEGO building bricks and playsets in 875 toy shops inside JCPenney stores. In addition to popular sets such as LEGO Star Wars™ and LEGO Super Heroes, shoppers will find a wider selection of LEGO toys at JCPenney.com starting in December.

Since launching the toy shops earlier this year, the Company has expanded its in-store assortment with the hottest gifts of the season, adding 40 percent more toys, games and plushes from leading brands such as Disney®, Hasbro®, Mattel®, Playmobil®, Fisher Price® and Melissa and Doug®. Additionally, JCPenney has quadrupled its online selection of toys since last holiday, giving shoppers a greater selection of motorized ride-on vehicles, outdoor play equipment, bicycles, learning sets and more at JCPenney.com.

“By working with the best toy brands in the industry, JCPenney continues to differentiate itself from the competition, giving more families a reason to visit our stores and discover the amazing selection available at JCPenney.com,” said John Tighe, executive vice president and chief merchant for JCPenney. “The holidays are hands down the most important time of year for retailers as we compete for every dollar leading up to Christmas morning. By partnering with a toy icon like the LEGO brand, JCPenney is well-positioned to capture a greater share of revenue within the toy industry, during the busiest shopping period for gifts.”

Stacking Up with LEGO
LEGO building has inspired children’s imaginations for decades as its interlocking bricks encourage creativity, learning and development. This November, JCPenney customers will find nearly 30 different LEGO sets in stores, including LEGO Classic creative building boxes, LEGO City sets and LEGO Friends sets. Prices range from $4.99 to $69.99, including a LEGO City pizza van for $19.99, a LEGO Disney™ Ariel and the Magical Spell set for $29.99 and a LEGO Friends summer pool scene for $39.99. An expanded selection of over 100 LEGO products will be available at JCPenney.com this December as enthusiasts of all ages search for new releases and pieces to add to their collections.

Must-Have Toys This Holiday
The toy shops inside JCPenney are packed with the must-have toys on every little one’s wish list. Appealing to a variety of ages and interests, shoppers will find family board games, character toys, baby dolls, arts and crafts, collectible surprise toys, vehicles, action figures and more featured in the latest holiday mailer that boasts eight pages dedicated to toys. On Thanksgiving Day and Black Friday, shoppers will find great discounts on toys at an incredible value, so customers can add a few extra gifts to their shopping cart. In addition to LEGO sets, some of the must-have toys inside JCPenney stores this season include:

  • Hatchimals Surprise
  • L.O.L Surprise! and Big Surprise
  • Star Wars Extendable Light Saber
  • My Little Pony Styling Head
  • JoJo Siwa Singing Doll
  • Pie Face Sky High! Game
  • NERF Mega Twinshock
  • Fashionista Barbie
  • Hotwheels Cars and Monster Trucks
  • Teenage Mutant Ninja Turtle Action Figures
  • Playmobil School Bus
  • Play-Doh Drill ‘N Fill

Even More to Discover at JCPenney.com
JCPenney.com now boasts four times more toys than last holiday season with additional brands and categories planned throughout December. Based on customer feedback, the Company has expanded its assortment of toys for all ages, including motorized ride-on vehicles, bicycles, scooters, sporting goods, outdoor trampolines, costumes, electronic learning toys, arts and crafts, swing sets and video games. As science, technology, engineering and math tools continue to evolve in schools, JCPenney has also increased the number of toys designed to help kids combine STEM principles with interactive play. Check out some of the biggest gifts at JCPenney.com:

For product images, please visit: http://www.jcpnewsroom.com/news-releases/2017/1030_lego_holiday_toys.html.

LEGO, its logo, the Minifigure and the brick & knob configuration are trademarks of the LEGO Group. ©2017 The LEGO Group. Used with permission.

###

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.

SOURCE:  J.C. Penney Corporation, Inc.

Posted on by

JCPenney launches innovative selection of smartwatches just in time for the holiday season

JCPenney launches innovative selection of smartwatches just in time for the holiday season

Retailer unveils new Modern Bride® experience within rebranded fine jewelry department

PLANO, Texas, 2017-Oct-23 — /EPR Retail News/ — The fine jewelry department at JCPenney [NYSE: JCP] just got a little brighter. Beginning Oct. 30, the Company is launching an innovative selection of smartwatches in 245 stores and JCPenney.com from top brands, including Samsung, LG and Garmin®, just in time for the holiday season. The Company has also rebranded its fine jewelry department to reflect its classic heritage and established history with a new trademark, JCPenney Co. Fine Jewelry, Est. 1902. Within the fine jewelry assortment, JCPenney has unveiled a reinvigorated Modern Bride concept that offers today’s bridal customers designer styles at a value. By highlighting the glittering selection and innovation found in its selection of fine jewelry and premium watches, the Company is underscoring the importance of its brick-and-mortar locations when attracting customers to stores for a unique, personalized experience.

“Fine jewelry is an extremely personal purchase, boasting some of the most loyal customers in our store. By bringing the latest trends in smartwatch technology into our assortment, we have the chance to attract new customers and introduce them to other areas inside JCPenney,” said Pam Mortensen, senior vice president of fine and fashion jewelry and watches at JCPenney. “Our research tells us that fine jewelry is one of the best opportunities for cross-shopping at JCPenney as shoppers may initially come in for a smartwatch, and then discover a captivating mix of fashion, beauty, salon, shoes and accessories. As JCPenney focuses on driving sales and increasing revenue per customer, fine jewelry is a shining opportunity amid an ever-changing retail environment.”

Tapping into Smartwatch Technology
Shoppers seek a blend of function and style when choosing a smartwatch, and the new assortment of wearables at JCPenney offers both at an incredible value. In select stores, smartwatches from Samsung, LG, Garmin, MisFit and Relic® will be presented as an interactive customer experience where shoppers are encouraged to touch, play and discover the features and benefits of each watch. To deliver the best service possible, JCPenney is developing an all-new Watch Professional program that will train fine jewelry associates on the technical aspects and characteristics of each brand, including the new smartwatch assortment. Prices for the innovative collection of wearables range from $155 to $349.99, with an expanded assortment available at JCPenney.com.

A Brilliant New Modern Bride Experience
The Modern Bride concept is a unique collaboration that started with Condé Nast in 2011, and is designed to offer an elevated shopping experience inside JCPenney that caters to today’s bridal customer. To match the sparkling diamonds found in this collection of engagement and wedding rings, the Modern Bride presentation has been refreshed in all JCPenney locations. Brides and grooms will find inspiring graphics, updated fixtures and glittering in-case presentations in a modern, fresh environment. Through Modern Bride, JCPenney can offer shoppers dazzling diamonds available in popular ring styles and settings. An all-new engagement guide highlights the expansive assortment of wedding jewelry found at JCPenney, including five collections within the Modern Bride concept.

New to Modern Bride this spring, the Company unveiled Hallmark Bridal featuring affordable, luxurious bridal jewelry for millennial couples with styles that can only be found at JCPenney. For the ultimate fairy tale, Enchanted Disney Fine Jewelry is a magical addition to Modern Bride and incorporates the essence of some of Disney’s most beloved masterpieces into elegant pieces for her wedding day and beyond.

Clear-Cut Training
JCPenney associates play an extremely important role in helping a customer choose the perfect ring, which is why the Company has revamped its comprehensive training program for fine jewelry professionals. Associates are specially trained and educated on the quality and characteristics of the diamonds, gemstones and precious metals found in collections throughout the department, and the updated training tools provide the product knowledge needed to strengthen and refine the associate’s ability to provide the best customer service possible.

“The wedding ring purchase is a gateway to the rest of the store and Modern Bride represents a significant opportunity to develop a life-long customer relationship as she gets married, buys a house and starts a family. She is a budget-conscious customer and comes to JCPenney for the value that we offer – without sacrificing design or quality. We already know that Modern Bride customers shop twice as often and spend significantly more than the average JCPenney shopper, and this beautiful new fine jewelry experience will introduce more brides and grooms to JCPenney,” added Mortensen.

For images, please visit www.jcpnewsroom.com.

###

JCPenney Media Relations:
(972) 431-3400 or jcpnews@jcp.com
@jcpnews

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.

SOURCE:  J.C. Penney Corporation, Inc.

 

Posted on by

JCPenney announces limited-edition capsule collection by award-winning actress and style icon Tracee Ellis Ross

JCPenney announces limited-edition capsule collection by award-winning actress and style icon Tracee Ellis Ross

PLANO, Texas, 2017-Oct-12 — /EPR Retail News/ — This holiday season, JCPenney will be treating shoppers to an exclusive, limited-edition capsule collection created with award-winning actress and style icon Tracee Ellis Ross. Available at JCPenney in all stores and jcpenney.com beginning Nov. 12, Tracee Ellis Ross for JCPenney will inspire customers to embrace their joyful spirit with a collection of women’s apparel, accessories and home décor items.

“We are thrilled to bring Tracee’s style to life with her first-ever retail collection,” said Jodie Johnson, senior vice president of women’s apparel, jewelry, footwear and handbags for JCPenney. “Known for her fresh, bold and confident looks, it’s no wonder that women seek to emulate Tracee’s style. Infused with her unique design aesthetic, the ‘Tracee Ellis Ross for JCPenney’ capsule collection offers an affordable selection of stylish and gift-able items that gives customers another reason to shop us this holiday season.”

Ross, a Golden Globe award winner and star of ABC’s Black-ish, is known for her spirit in style, health and beauty. She’s long been a lover of fashion, beginning with her early career working in the industry as a model and as a contributing fashion editor to Mirabella and New York magazines. Today, whether it’s her perfectly curated red carpet looks or chic street style, the fashion world — and her millions of social media followers — have taken notice.

“It’s been my lifelong dream to design a line of clothing to utilize my love of style and clothes and to create a collection accessible to everyone that empowers women to embrace their joyful spirit. Each piece is timeless and versatile, classic but with flavor. They can be mixed and matched to create elegant looks for everybody and every body. JCPenney was a wonderful partner for me as I designed this affordable collection because I truly believe that looking good does not have to cost a lot,” said Tracee Ellis Ross. “At the same time I thought why not expand the joy of getting dressed into a few beautiful home décor items? These pieces add a special touch when entertaining friends and loved ones this holiday season, giving some sparkle and joy.”

Exuding Ross’ glamour and femininity, Tracee Ellis Ross for JCPenney mixes sophisticated prints and silhouettes offering customers an assortment of sparkly and colorful dresses, trousers, jackets, sleepwear, athleisure pieces and more. Customers can shop an array of fun and elegant looks for any occasion, whether it’s a sequin dress for a festive holiday party to a classic tuxedo jacket or a stretchy body con dress that easily goes from day to night or even pairing the collection’s red robe coat and trousers for a perfect monochromatic head-to-toe look. Apparel items will be offered in sizes small to 3X, with prices ranging from $29 to $74 and can be accessorized with a selection of handbags, totes and scarves, ranging from $19 to $24. Sleepwear items will range from $17 to $34. Ross’ holiday collection also extends to home accessories with a curated assortment of items including throw pillows, dessert dishes, high ball glasses and more, ranging from $12 to $19.

As an exclusive benefit, JCPenney Rewards members will be the first to know when the pink and gold sequin dresses from Tracee Ellis Ross for JCPenney are available for purchase on jcpenney.com before the full collection launches. Beginning Nov. 12, customers can find the Tracee Ellis Ross for JCPenney collection prominently displayed in a dedicated shop in store and online at jcp.com/TraceeEllisRoss.

For images, please visit www.jcpnewsroom.com.

###

JCPenney Media Relations:
(972) 431-3400 or jcpnews@jcp.com
@jcpnews

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.

SOURCE: J.C. Penney Corporation, Inc.

Posted on by

JCPenney launches new brand of bedding and decor for kids — Frank + Lulu

JCPenney launches new brand of bedding and decor for kids — Frank + Lulu

 

PLANO, Texas, 2017-Aug-23 — /EPR Retail News/ — JCPenney [NYSE: JCP] is spreading the enjoyment of afternoon naptimes and playing make-believe with the launch of Frank + Lulu, a whimsical new brand of bedding and decor for kids. Featuring bright colors and fun prints, shoppers will find various collections within the brand designed to mix-and-match elements to create a youthful design aesthetic. From bedding and sheets to decorative pillows and rugs, parents can create a stylish, inspirational kid’s room to spark imagination and a blissful night’s sleep. Available exclusively at JCPenney, Frank + Lulu is available at jcpenney.com and will launch in over 200 stores beginning Sept. 1, with plans to introduce additional collections to more stores this fall.

“Children’s bedrooms should be full of imagination and a place where kids can laugh, play, grow and discover. The colorful, inspiring collections from Frank + Lulu give kids the bedroom of their dreams at a price that parents can afford,” said Tony Hurst, senior vice president of home at JCPenney. “By adding Frank + Lulu to our powerful portfolio of exclusive brands, we are filling a void in our assortment that directly targets the young mom who often looks to social media for style tips on designing a modern kids’ room that captures the creative spirit of her little ones.”

Encouraging children to dream big and giggle daily, spunky kiddos will gravitate to this playful line, featuring donut, flamingo and surf-inspired sheets, animal throw pillows, fluffy bean bag chairs, geometric wall accents, fur rugs and gold pom pom-adorned storage cubes. Parents will appreciate the versatility of these fun, functional pieces as they create a unique space for their children to bond with family and friends for years to come.

Frank + Lulu will be available within the JCPenney home department in a dedicated environment inspiring shoppers with bedding displays complete with funky décor and accessories. Updated seasonally, the brand will add decorative accents, wall art, lighting and stuffed bookends later this fall. Original prices range from $39 for a twin sheet set to $99 for a full-size comforter set.

For product images of the new Frank + Lulu home collection for kids, please visit:
http://www.jcpnewsroom.com/news-releases/2017/0822_launches_frank_and_lulu.html

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.

Media Relations:
(972) 431-3400
jcpnews@jcp.com

Source: J. C. Penney Company, Inc.

###

Posted on by

JCPenney elects Wonya Lucas to its board of directors

JCPenney elects Wonya Lucas to its board of directors

 

PLANO, Texas, 2017-Aug-21 — /EPR Retail News/ — J. C. Penney Company, Inc. (NYSE: JCP) today (Aug. 17, 2017) announced the election of Wonya Lucas, president and chief executive officer of Public Broadcasting Atlanta, to its board of directors. Highly regarded for her mass communications and broadcasting leadership, Lucas has vast knowledge in how media strategy, digital content, marketing and distribution drive consumer behavior.

“Wonya has an impressive background that spans brand management and corporate and media strategy, and has been responsible for creating some of television’s most highly acclaimed viewer programming,” said Marvin R. Ellison, chairman and chief executive officer of JCPenney. “Her distinguished background brings tremendous value to our board as JCPenney continues to build mindshare in a media landscape saturated with news and information.”

Before her leadership position with Public Broadcasting Atlanta, which includes NPR station WABE, and Atlanta’s PBS station, PBA, Lucas was president and chief executive officer for TV One, where she was responsible for all strategic decisions and daily operations. Prior to joining TV One, Lucas held several positions at Discovery Communications, including executive vice president and chief operating officer for Discovery Channel and Science Channel and global chief marketing officer with responsibility for marketing in 210 countries and over 130 networks. While at Discovery, Lucas helped launch Investigation Discovery (ID), HUB and OWN networks.

Prior to joining Discovery Communications in 2008, Lucas served as general and manager and executive vice president of The Weather Channel Networks, where she was responsible for daily operations, programming development, corporate strategy and development, strategic marketing for The Weather Channel and weather.com. Before joining The Weather Channel in 2002 as executive vice president of marketing, Lucas held several positions at Turner Broadcasting, including senior vice president of strategic marketing for cnn.com and CNN Networks Worldwide, vice president of business operations and network development for Turner Entertainment and vice president of entertainment marketing for TNT. Her other experience includes brand management roles for The Coca-Cola Company and The Clorox Company.

“What drew me to the JCPenney Board is the Company’s sense of community and the trust it has earned from millions of families who count on JCPenney for quality and value,” said Lucas. “I feel honored to be supporting the Company at a time when building brand relevance and competitive differentiation are more important than ever.”

Lucas holds a B.S. degree in industrial and systems engineering from the Georgia Institute of Technology, and an MBA in finance and marketing from The Wharton School at the University of Pennsylvania.

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.

Media Relations:
(972) 431-3400
jcpnews@jcp.com

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

Source: J. C. Penney Company, Inc.

###

Posted on by

JCPenney announces collaboration with Lifetime Emmy-nominated® show Project Runway; launches exclusive fashion brand

JCPenney announces collaboration with Lifetime Emmy-nominated® show Project Runway; launches exclusive fashion brand

 

Brand Will Feature Limited Edition Designs from Season Winners and Challenge Episodes

PLANO, Texas, 2017-Aug-02 — /EPR Retail News/ — JCPenney [NYSE: JCP] is giving shoppers a front row seat to its fall fashion lineup with the launch of the first-ever “Project Runway” brand inspired by the Lifetime Emmy-nominated® show and its talented group of design contestants. Now available in over 500 JCPenney stores and at JCPenney.com, the exclusive line of contemporary women’s apparel debuts with a summer preview collection showcasing designs inspired by season 15 winner Erin Robertson, with the full assortment planned for Sept. 8. JCPenney will be the exclusive retailer partner for “Project Runway” seasons 16 and 17 and “Project Runway All Stars” season 7.

“Millions of viewers aspire to emulate the fashion-forward looks first conceptualized during a Project Runway episode,” said John Tighe, chief merchant for JCPenney. “This strategic collaboration enables us to work directly with up-and-coming design talent from Project Runway and increase our assortment of contemporary apparel, while gaining a fresh perspective on what women are seeking when curating the ultimate wardrobe.”

The Project Runway brand assortment is a mix of contemporary and street style looks with one-shoulder dresses, pencil skirts and cold-shoulder blouses that mix patterns and textures as part of a stunning preview collection. In September, the assortment will highlight sport luxe details with lace-up accents, hardware embellishments and drama sleeves on notable pieces, including off-the-shoulder bomber jackets, wide-leg track pants and fashion sweatshirts in rose, burgundy and black. The Project Runway collection at JCPenney will be prominently displayed in the women’s fashion area near the main entrance of select stores.

“This partnership with JCPenney is one of our biggest retail collaborations since the series first began more than a decade ago,” said Harvey Weinstein, co-chairman of The Weinstein Company. “It also marks the first time the entire Project Runway franchise has partnered with a leading, national retailer and introduced a line of Project Runway clothing that will be available year-round.”

Fashion Fresh Off the Runway
Throughout each season of Project Runway and Project Runway All Stars, the retailer will sponsor a stimulating design challenge. The winners of the JCPenney design challenge will have a special, limited edition run of their winning design produced in New York City, which will be immediately available to the public at JCPenney.com, and in select stores the following morning. Each season winner will also have the chance to collaborate with JCPenney on a capsule collection for the Project Runway brand, giving the designers an opportunity to make their unique style and aesthetic available to fans nationwide at prices that enable more women to obtain runway-inspired fashion.

For the entire season of Project Runway All Stars, JCPenney plans to translate the winning look from every episode into garments that will be available exclusively on JCPenney.com every week, giving fans instant access to the latest styles from the show. Making these designs immediately available is one way the Company is demonstrating its commitment to delivering sought after apparel on a faster production timeline.

Each show will also showcase “The JCPenney Accessory Wall,” featuring a curated selection of shoes, handbags, fashion accessories and jewelry from brands such as Liz Claiborne®, Mixit®, a.n.a.® and Worthington®. In every episode, designers will be encouraged to complete their runway look using accessories displayed on the JCPenney Accessory Wall.

The Company is supporting the brand with an integrated marketing campaign that includes dedicated Project Runway television spots and engaging show fans on popular social media channels. JCPenney is also spotlighting the collection through a dedicated microsite at jcp.com/projectrunway where customers can shop the latest Project Runway assortment inspired by the show and the challenge episodes.

To download this release in English or Spanish, and for Project Runway related images, please visit: http://www.jcpnewsroom.com/news-releases/2017/0731_project_runway.html.

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.

About Project Runway:
Hosted by Emmy® Award winner, supermodel and fashion connoisseur Heidi Klum, the hit Emmy®-nominated series Project Runway provides budding designers with an opportunity to launch their careers in fashion, under the watchful eyes of mentor and co-host Emmy® Award winner Tim Gunn and judges Nina Garcia and Zac Posen.

Project Runway is produced by The Weinstein Company, Bunim/Murray Productions, Full Picture Entertainment, and Heidi Klum Company. Executive producers include Bob and Harvey Weinstein (Co-Chairmen of The Weinstein Company) and Patrick Reardon and Barbara Schneeweiss of The Weinstein Company, Jonathan Murray and Sara Rea of Bunim/Murray Productions, Heidi Klum, Jane Cha and Desiree Gruber of Full Picture Entertainment. Mary Donahue and David Hillman of Lifetime also executive produce, and Gil Goldschein and Teri Weideman of Bunim/Murray Productions serve as Co-Executive Producers.

About Weinstein Television:
The Weinstein Company (TWC) is a multimedia production and distribution company launched in October 2005 by Bob and Harvey Weinstein, the brothers who founded Miramax Films in 1979. TWC also encompasses Dimension Films, the genre label founded in 1993 by Bob Weinstein. During Harvey and Bob’s tenure at Miramax and TWC, they have received 357 Oscar nominations and won 82 Academy Awards®.

Since 2005, TWC and Dimension Films have released such films as VICKY CRISTINA BARCELONA; THE READER; INGLOURIOUS BASTERDS; SCRE4M; SPY KIDS; THE KING’S SPEECH; UNDEFEATED; THE ARTIST; THE MASTER; SILVER LINIGS PLAYBOOK; DJANGO UNCHAINED; SCARY MOVIE 5; LEE DANIELS’ THE BUTLER; PHILOMENA; THE IMITATION GAME; PADDINGTON; WOMAN IN GOLD; SOUTHPAW; CAROL; THE HATEFUL EIGHT; SING STREET; THE FOUNDER and LION. Upcoming releases include WIND RIVER, LEAP!, TULIP FEVER, MARY MAGDALENE, and THE CURRENT WAR.

Weinstein Television boasts an active television production division with critically acclaimed projects in both scripted and non-scripted series. Weinstein Television produces the reality powerhouse Project Runway, with its spin-off series Project Runway All Stars, hosted by Alyssa Milano, Project Runway Jr, featuring supermodel Hannah Jeter and fashion critic Kelly Osbourne. Lifetime also aired business focused Project Runway: Fashion Inc. as part of the Project Runway franchise. Current series include TIME: The Kalief Browder Story which premiered on Spike in March 2017.

Scripted series include the critically acclaimed miniseries War & Peace, which debuted on Lifetime, A&E and HISTORY in 2016, Scream with MTV, which premiered its second season in May 2016, Peaky Blinders on Netflix, Julian Fellowes’ Doctor Thorne with Amazon, Stephen King’s The Mist for Spike TV and the military drama Six for HISTORY. Upcoming series include Waco for Paramount TV, starring Michael Shannon and Taylor Kitsch, a new series from David O. Russell starring Robert DeNiro and Julianne Moore for Amazon, Matthew Weiner’s The Romanoffs for Amazon, and an epic reimagining of Victor Hugo’s Les Miserables with the BBC.

Television projects in development explore a range of arenas and are not exclusive to drama or comedy, minis or continuing series, live action or animated. An active slate of more than 60 projects includes Elvis, the first-ever scripted series to shoot at Graceland, Josephine and Napoleon by Tony Saint, Stephen King’s The Breathing Method with Blumhouse, Scott Teems and Scott Derrickson, and UK series The City and The City and Fearless.

About Lifetime:
Lifetime is a premier entertainment destination for women dedicated to offering the highest quality original programming spanning scripted series, non-fiction series and movies. The critically acclaimed UnREAL, Project Runway, Dance Moms, Bring It!, The Rap Game and Little Women franchises anchor the network’s programming, in addition to its over 25 original movies annually that continue to define the TV movie genre. In 2015, Lifetime launched Brand Focus, a major global initiative dedicated to supporting and hiring female directors, writers and producers to make its content which totals over 450 original hours. Lifetime Television®, LMN®, Lifetime Real Women® and Lifetime Digital® are part of Lifetime Entertainment Services, LLC, a subsidiary of A+E Networks. A+E Networks is a joint venture of the Disney-ABC Television Group and Hearst Corporation.

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

Source: J. C. Penney Company, Inc.

###

Posted on by

JCPenney hosts Pair Up with JCPenney campaign to provide kids in-need with basic clothing items

JCPenney hosts Pair Up with JCPenney campaign to provide kids in-need with basic clothing items

 

  • National Study Commissioned by JCPenney Finds Low-Income Children in Need of Basic Clothing Items
  • For Every Pack of Kids’ Underwear and Socks Sold, Retailer will Donate a Pack to the YMCA

PLANO, Texas, 2017-Jul-31 — /EPR Retail News/ — This back-to-school season, JCPenney is inviting customers to “pair up” by participating in a special buy one, give one promotion that will provide kids in-need with basic undergarments. From Aug. 1-15, for every pack of kids’ socks and underwear sold at JCPenney, the retailer will donate a pack to the Y, up to 750,000 pairs. The retailer’s Pair Up with JCPenney campaign is in response to findings from a national study commissioned by JCPenney, America’s Youth: The Need for Basic Necessities, which sheds a light on an invisible need: many underserved kids across the country are going without basic clothing essentials, which can impact their academic achievement.

“Today (July 27, 2017), many children go to school without basic clothing needs like socks and underwear. When kids don’t have these items, they often feel insecure, embarrassed and don’t want to fully engage in school activities,” said Marci Grebstein, chief marketing officer for JCPenney. “As one of the largest apparel companies in the country, we knew we could begin to make a difference by addressing this pressing need. When our customers purchase a pack of kids’ socks or underwear this back-to-school season, they will be joining us in making a difference to ensure more kids have what they need to succeed this school year.”

Earlier this year, JCPenney commissioned a study that included a survey of parents of school-aged children, along with one-on-one interviews with key organizations and thought leaders to obtain in-depth, anecdotal knowledge and key insights about the need for basic clothing items. Key findings from the America’s Youth: The Need for Basic Necessities national study* found:

  • 40 percent of low income parents worry about their child having enough socks and underwear.
  • Of the parents that reported sending their children to school without socks or underwear, 51 percent shared they did so because they could not afford to provide their child with enough pairs of socks or underwear to make it through the week.
  • 55 percent of parents whose children did not have underwear and socks to wear said their children wanted to skip school or refused to go to school because they were embarrassed by not having any.
  • Nearly half of parents living in poverty say socks (48 percent) and underwear (46 percent) are among the hardest items to find at second hand stores and garage sales, and are not usually an item handed down from friends and family.
  • Around half of parents shared that their children need new socks (55 percent) and underwear (48 percent) every couple of months.

The Pair Up with JCPenney initiative builds on the retailer’s signature charity partnership with the Y. Through its collaboration with the Y, JCPenney intends to strengthen the communities where its customers and associates live, work and shop by supporting the Y’s work in helping kids, families and communities reach their full potential. To help ensure kids have what they need to succeed, The JCPenney Foundation made a $1 million contribution to the Y earlier this year in support of the organization’s national early childhood, afterschool and preschool programs.

“As a leading nonprofit, the Y is dedicated to nurturing the growth of every child and teen, including the nine million who participate in Y programs. We’ve seen first-hand how the lack of basic essentials—from healthy foods and school supplies to socks and underwear— can affect their ability to focus and learn, making it harder for them to reach their full potential,” said Bela Moté, national director of character development for Y-USA. “We’re thrilled to see our partner JCPenney bring national awareness and support to this important issue, and we look forward to being able to provide much-needed basics that help kids’ confidence and self esteem.

JCPenney customers shopping for kid’s underwear and socks this season can choose from an array of leading national and private brands, including Total Girl®, Arizona, GoldToe,® Maidenform® and more. To raise further awareness of the need for basic clothing items among school-aged children, the retailer has launched jcpenneypairup.com, along with a public service announcement, which JCPenney will amplify across YouTube and its social media channels.

In addition to supporting the Y through the Pair Up program, the retailer plans to organize several JCPenney volunteer events at local Y’s across the country. These events would give JCPenney associates an opportunity to mentor and interact with Y kids by setting goals for the school year and decorate back-to-school banners. Kids would receive backpacks filled with a pack of socks and a limited supply of gift cards.

*America’s Youth: The Need for Basic Necessities, Morar Consulting, April 2017

A report on the research findings from America’s Youth: The Need for Basic Necessities study can be accessed at jcpenneypairup.com and jcpnewsroom.com.

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

About The Y:
The Y is one of the nation’s leading nonprofits strengthening communities through youth development, healthy living and social responsibility. Across the U.S., 2,700 Ys engage 22 million men, women and children – regardless of age, income or background – to nurture the potential of children and teens, improve the nation’s health and well-being, and provide opportunities to give back and support neighbors. Anchored in more than 10,000 communities, the Y has the long-standing relationships and physical presence not just to promise, but to deliver, lasting personal and social change. To learn more about the Y, please visit: http://www.ymca.net/forabetterus/

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

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

Source: J. C. Penney Company, Inc.

###

Posted on by

JCPenney creates an easy and seamless customer shopping experience with the roll out of Apple Pay at stores nationwide

JCPenney creates an easy and seamless customer shopping experience with the roll out of Apple Pay at stores nationwide

 

JCPenney Credit Card and JCPenney Rewards Loyalty Program Among First to Seamlessly Integrate with Apple Pay

PLANO, Texas, 2017-Jul-27 — /EPR Retail News/ — As part of its focus on creating an easy and seamless customer shopping experience, JCPenney (NYSE:JCP) has rolled out Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay, to all stores nationwide. The Company will also make its credit card available on Apple Pay, which allows credit card users to earn shopping points through JCPenney Rewards, the retailer’s customer loyalty program.

“With Apple Pay at JCPenney, we’re able to offer a faster, more seamless check out process by allowing our customers to pay for their purchases by simply holding their iPhone or Apple Watch near a point-of-sale terminal, rather than inserting a chip card,” said Therace Risch, chief information officer for JCPenney. “And with the added convenience of our credit card as a payment option via Apple Pay, we’re giving customers another compelling reason to join our credit card and loyalty programs.”

In store, Apple Pay works with iPhone 7, iPhone 7 Plus, iPhone 6s, iPhone 6s Plus, iPhone 6, iPhone 6 Plus, iPhone SE and Apple Watch. JCPenney point-of-sale registers now process all Apple Pay supported credit and debit bank cards, including the Company’s credit card and co-branded Mastercard, both issued by Synchrony Bank and available to use with Apple Pay. Customers simply add their JCPenney credit card as a payment option to Apple Pay using the Wallet or Apple Watch app on their iPhone. Plus, coming soon, customers with the JCPenney app on iPhone and iPad will have the option to complete their purchases using Apple Pay.

“We’re always looking for new ways to leverage innovative technology solutions to deliver convenient and secure mobile payments for our retail partners,” said Carol Juel, executive vice president and chief information officer, Synchrony Financial. “With the JCPenney credit card and the JCPenney Mastercard now ready to use with Apple Pay, the customer experience is taken to a whole new level.”

“Through our Mastercard Digital Enablement Service, we remain committed to helping merchants like JCPenney capitalize on mobile payments, ensuring the best experience for their customers and driving loyalty,” said Linda Kirkpatrick, executive vice president, U.S. Market Development, Mastercard.  “By enabling private label card offerings to be supported in a digital environment, we’re providing the choice consumers want while delivering the customer engagement retailers demand.”

When customers add a payment card to Apple Pay, the actual card numbers are neither stored on the device, nor on Apple servers. Instead, a unique device account number is assigned, encrypted and securely stored in the secure element on the Apple device. Each transaction is authorized with a one-time unique dynamic security code.

For more information on Apple Pay, visit: http://www.apple.com/apple-pay/

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

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

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

Source:  J. C. Penney Company, Inc.

###

Posted on by

Jeffrey Davis joins JCPenney as executive vice president and chief financial officer

PLANO, Texas, 2017-Jul-27 — /EPR Retail News/ — J. C. Penney Company, Inc. (NYSE: JCP) today (July 24, 2017) announced that Jeffrey Davis is joining the Company as executive vice president and chief financial officer, effective today. He will succeed Andrew Drexler, who has been serving as interim chief financial officer while the Company completed its search. Davis will report to Marvin R. Ellison, chairman and chief executive officer of JCPenney.

“On behalf of the board of directors and executive leadership, I’m pleased to welcome Jeff to JCPenney. He brings decades of finance, treasury and strategy experience from a host of leading companies, and will make an outstanding addition to our team,” said Ellison. “Jeff’s expertise will also be a tremendous asset to JCPenney as we continue to differentiate our business in a competitive retail climate and further strengthen our balance sheet moving forward.”

In his role, Davis will be responsible for all financial operations of the Company, including the oversight of finance teams at the JCPenney home office and shared services center in Salt Lake City. Among his primary objectives will be to continue the Company’s progress in identifying earnings growth opportunities, optimizing pricing, exercising SG&A discipline, managing inventory levels and deleveraging debt.

“JCPenney is a mainstay in American retailing, and I’m proud to have the opportunity to sustain its rich legacy alongside a group of dedicated associates committed to differentiating the Company from its traditional competitors,” said Davis. “I look forward to working with our teams in Plano and Salt Lake to continue strengthening the financial position of JCPenney, further propelling the Company’s momentum.”

Davis most recently served as chief financial officer at Darden Restaurants, overseeing finance and accounting, corporate reporting, tax, internal audit, treasury and investor relations. He also maintained oversight of Darden’s real estate acquisitions, as well as the company’s restaurant development.

Prior to Darden, Davis served as executive vice president and chief financial officer for Walmart U.S. stores. Upon joining Walmart in 2006, he served as vice president of finance for its U.S. specialty division before assuming positions of increasing responsibility, including senior vice president of finance and strategy, followed by a promotion to senior vice president and treasurer. Before Walmart, Davis held multiple finance-related positions with Lakeland Tours, McKesson Corporation and The Hillman Company.

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands.  Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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 the Company’s financial position, the revolving credit facility 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 non-core 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 @jcpnews on Twitter for the latest announcements and Company information.

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

Source:  J. C. Penney Company, Inc.

Posted on by

JCPenney expands its City Streets® private brand with casual sportswear and fashion accessories just in time for back-to-school

JCPenney expands its City Streets® private brand with casual sportswear and fashion accessories just in time for back-to-school

 

  • Company Transforms City Streets® to Fast Fashion Brand Available at Extreme Value Prices
  • JCPenney.com Products Now Ship Free to any JCPenney Store with No Minimum Threshold

PLANO, Texas, 2017-Jul-21 — /EPR Retail News/ — JCPenney [NYSE: JCP] is accelerating in the fast fashion lane with the expansion of its City Streets® private brand by offering trend-right merchandise priced at an extreme value just in time for back-to-school. The newly expanded collection now encompasses casual sportswear and fashion accessories for the entire family and is the latest apparel initiative designed to attract new and younger customers to JCPenney, while swiftly meeting demand for stylish apparel at everyday low prices. These items and more are now available for free shipping when purchased at JCPenney.com and customers choose to have their order shipped to a local JCPenney store for easy pickup.

“We reinvented the City Streets brand this past spring to better compete with specialty and off-price retailers who are providing new, trend-relevant merchandise on a quicker production timeline,” said John Tighe, chief merchant for JCPenney. “With City Streets, we can offer affordable fast fashion for shoppers who want to continuously update their wardrobe with the latest styles.”

The entire City Streets collection, as well as select items from other JCPenney private brands, will be part of a merchandise assortment priced at an extreme value every day. These products have low, fixed price points that do not require a sale and are coupon eligible. Throughout the year, the City Streets assortment will evolve based on what’s popular for the season, such as $5 flip flops, $9 shortsand $10 sunglasses for summer, and $7 backpacks, $15 jeans and $12 sneakers for back-to-school.

For back-to-school, JCPenney is encouraging friendship by highlighting City Streets anti-bullying tees that convey statements of positivity, such as “Choose Nice” and “Super Heroes Stick Up For Everyone.” Shirts available in the kid’s department will include “Fashion Against Bullying” hangtags that provide information for contacting Teen Line, a crisis hotline where students can receive help or advice against bullying. The friendship tees are available in all stores and at JCPenney.com from $5 to $7.

Revving-Up Value and Savings and Free Shipping Incentives
JCPenney shoppers will find compelling deals on the latest trends throughout the entire season. Back-to-school promotions begin with the roll out of “Power Penney Days” on July 21, showcasing $3, $5, $7 and $9 deals on select items. Customers can also take advantage of extra savings with a 15 percent off coupon valid through July 23 or a $10 off $10 or more coupon giveaway available to early shoppers in stores on July 22, while supplies last.

Customers shopping jcpenney.com will have the added convenience of shipping their online orders to their local JCPenney store with no minimum order requirement or shipping charge. The merchandise assortment online offers four times the selection of the largest JCPenney store, giving customers broader access to sizes, styles and new product categories not found in stores, such as electronics, sporting goods and musical instruments. Additionally, thousands of items are available for free same-day pickup in any given store.

Accelerating Apparel Production
JCPenney is leaning into fast fashion by reducing the development timeline of select private brand merchandise by 40 percent. The Company has one of the most sophisticated in-house design and sourcing operations in the industry, and is leveraging supply chain efficiencies, as well as the expertise of its merchant and store teams, to accelerate apparel production and the in-store delivery process. With the new speed-to-market initiative, JCPenney can react more quickly to consumer trends, allocate the right product mix and deliver value at the faster pace shoppers have come to expect.

To download this release in English or Spanish, and for back-to-school related images and store b-roll, please visit: http://www.jcpnewsroom.com/news-releases/2017/0720_back_to_school.html

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

###

Posted on by

JCPenney opens toy shops in all of its brick-and-mortar locations

JCPenney opens toy shops in all of its brick-and-mortar locations

 

Toy assortment at JCPenney.com will continue to multiply in preparation for holiday season

PLANO, Texas, 2017-Jul-15 — /EPR Retail News/ — As JCPenney [NYSE: JCP] continues to explore new merchandise categories and differentiate its business, the retailer is opening toy shops in all of its brick-and-mortar locations with a significantly expanded assortment available at JCPenney.com. Strategically adjacent to the Disney Collection inside JCPenney, the shops feature an extensive selection of toys for kids of all ages including dolls, action figures, racing cars, arts and crafts, board games, plushes and learning sets from leading brands such as Hasbro®, Mattel®, Playmobil® and Fisher Price®, to name a few. To further reinforce its commitment to this playful category, JCPenney has doubled its online assortment of toys over the last year with plans to expand even more by the holiday shopping season.

“JCPenney has a nostalgic history of selling sought-after toys in our early Christmas catalogs, so we brought toys back last holiday season to see if they would resonate once again. We were extremely pleased by customer response and confidently made the decision to grow our toy assortment in stores and at JCPenney.com. We know that shoppers buy toys year-round and by creating a fun, inviting toy shop, with some of the biggest brands and hottest products, we will entice families to shop and spend more at JCPenney,” said John Tighe, executive vice president and chief merchant for JCPenney. “Toys are an exciting product category for JCPenney and an in-store attraction that will drive traffic and sales as we continue to focus on increasing revenue per customer.”

The toy shop inside JCPenney will help kids dream, imagine and explore with some of the most popular toys for toddlers, preschoolers and big kids, such as Barbie®, Shopkins™, Hatchimals®, NERF®, Hotwheels® and Star Wars™. Located within the children’s department, many of the shops feature an area that kids can play with select toys that will be available for them to try out and enjoy while in the store.

Discover More at JCPenney.com
As JCPenney continues to focus on omnichannel advancements, the retailer has doubled its toy assortment at JCPenney.com since last year. Based on customer feedback, the team added new product categories, including bicycles, video games, outdoor trampolines, costumes and science kits, while sorting the product by age group. As science, technology, engineering and math tools continue to evolve in schools, JCPenney is adding an expansive assortment of toys this fall designed to help kids combine STEM principles with interactive play. Shoppers can expect an even larger toy assortment available at JCPenney.com in time for the holiday shopping season.

“JCPenney realizes the importance of having a significantly expanded product selection at JCPenney.com to compete with pure e-commerce rivals, which is why we are so proud of both our product and category expansions over the past 12 months. The toy industry continues to grow and JCPenney intends to capture a significant portion of this $20 billion industry* with our new toy shops in stores and our impressive selection at JCPenney.com,” added Tighe.

*Toy Association

For current store images of the new toy shops, please visit:

http://www.jcpnewsroom.com/news-releases/2017/0713_launches_toy_shops.html

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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 the Company’s financial position, the revolving credit facility 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 non-core 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.

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.

###

Posted on by

JCPenney introduces new and improved JCPenney Rewards program

PLANO, Texas, 2017-Jul-12 — /EPR Retail News/ — JCPenney [NYSE: JCP] today (July 11, 2017) launched a new and improved JCPenney Rewards program. First introduced in 2008, the retailer’s customer loyalty program has been enhanced with new benefits and features that allow greater flexibility and reward earning potential, along with a new website and app experience that make accessing JCPenney Rewards easier than ever.

“We know our JCPenney Rewards members shop and spend more than twice as much as non-Rewards customers. As we focus on growing revenue per customer, our customer loyalty program will be integral to enticing customers to shop often and spend more on every trip,” said Sherina Smith, vice president of loyalty and customer relationship management for JCPenney. “We have spent the last year testing, analyzing and refining various pilot programs across the country to create the best loyalty program for our customers. We are excited to introduce a new program that better rewards our customers for regularly shopping JCPenney, ensuring she’s getting her ‘Penney’s worth’ – all while building long-term customer loyalty.”

No Cap on $10 Rewards and Points That Don’t Expire
With the new JCPenney Rewards program, every time a customer earns 200 points, the customer will receive a $10 reward, valid for a minimum of 45 days. There is no cap on the number of $10 rewards customers can accrue in a month and any remaining points will continue to roll over each month, as long as the customer remains an active JCPenney shopper. The $10 rewards can be used on a future JCPenney purchase in store and online at jcpenney.com.

JCPenney credit cardmembers are automatically enrolled in the program and will earn one point for every dollar they spend. JCPenney Reward members who use any other form of payment will earn 1 point for every $2 they spend.

Enticing, Member-Only Benefits
Customers receive an array of exclusive benefits as a JCPenney Rewards member. Members can expect special offers throughout the year, from member-only prices for select merchandise to limited Sephora inside JCPenney sample product offers and even an extra coupon to use on their birthday. Furthermore, during bonus reward events, all members can receive $10 bonus rewards for every $50 spent up to $150.

With JCPenney cardmembers shopping JCPenney more frequently and spending over 2.5 times as much as other customers, JCPenney has added more incentives for customers to become cardmembers. Under the new JCPenney Rewards program, JCPenney credit cardmembers will receive additional benefits such as exclusive coupons and invitation-only shopping events, including more than 150 exclusive cardmember savings days. In fact, credit cardmembers shopping the retailer’s Cyber in July sale this week will enjoy an additional 30 percent off when they use their JCPenney credit card on top of an array of enticing online-only deals.

Furthermore, Gold and Platinum cardmembers receive extra benefits such as a passbook of coupons, which includes a “Pick Your Own Sale Day,” along with additional coupons and special offers. Platinum cardmembers also receive a special “thank you” offer, Sephora inside JCPenney bonus point events and Platinum Appreciation sale days. Gold and Platinum cardmember status will now be determined by the customer’s annual spend, regardless of how many times a customer shops JCPenney or JCPenney.com throughout the year.

Manage Rewards Anytime, Anywhere
JCPenney has consolidated its JCPenney Rewards website with jcpenney.com – all members need to remember is: jcp.com/rewards. Through one single sign-in, a member’s rewards automatically appear at checkout and the customer can choose to apply them to their purchase with one simple click. JCPenney Rewards members will be notified by email when they have earned a reward.

Additionally, members can manage their JCPenney Rewards account in the newly redesigned JCPenney mobile app. Members can easily access their $10 rewards in the app’s user profile and view how many points until their next reward. Much like the desktop version, a member’s rewards automatically appear at checkout when shopping in the app. When checking out in a store, customers can simply ask an associate to scan the barcode of their $10 reward directly from the app on their smartphone.

The app also includes a barcode with the member’s JCPenney Rewards identification number. Store associates can scan the barcode to look up the customers’ JCPenney Rewards account to ensure they receive points for their store purchase. A member’s $10 rewards will automatically be stored within the app’s new digital wallet feature, where app users can also scan their JCPenney coupons and gift cards to store all their JCPenney savings one convenient location. Futhermore, JCPenney credit cardmembers can enjoy the convenience of paying their bill within the app.

To encourage JCPenney Reward members to take advantage of these new features on the app, members that download the JCPenney app for the first time from July 16-Aug. 31 will receive a $10 reward.

Customers interested in the joining the JCPenney Rewards program can sign-up for free by visiting www.jcp.com/rewards or inquire at their local JCPenney store.

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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
@jcpnews

Source: J. C. Penney Company, Inc.

Posted on by

JCPenney CFO Edward Record to leave the company

Andrew Drexler to Serve as Interim CFO as an Executive Search is Underway

PLANO, Texas, 2017-Jul-12 — /EPR Retail News/ — J. C. Penney Company, Inc. (NYSE: JCP) today  (July 10, 2017) announced that Edward Record has informed the Company of his intention to step down from his position as executive vice president, chief financial officer effective July 11 to pursue other interests. Record will remain with the Company in an advisory capacity until Aug. 7 to assist with the transition while a search for his replacement is conducted. Additionally, Andrew Drexler, senior vice president, chief accounting officer and controller, will assume the position of Interim chief financial officer along with his current duties.

Record joined JCPenney as chief financial officer in March 2014. During his tenure, the Company retired over $1.4 billion in debt, enhanced its revolving credit facility, and has obtained numerous credit rating upgrades.

Ed Record stated, “I’ve had a very rewarding experience at JCPenney, and am proud of the work we have undertaken to strengthen the company’s financial condition. JCPenney is well positioned for the future, and I will continue to follow the company closely as the team builds on the positive momentum it has experienced over the last few years.”

“On behalf of our board and leadership team, I want to thank Ed for his service and dedication to JCPenney during a challenging turnaround and a competitive retail climate. We wish him much success in his future endeavors,” said Marvin R. Ellison, chairman and chief executive officer. “The timing of his departure coincides with a demonstrated sales performance improvement in the second quarter, and we continue to expect to report significantly improved top-line results this quarter versus the first quarter. We look forward to sharing more details on August 11.”

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands.  Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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 the Company’s financial position, the revolving credit facility 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 non-core 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; or follow us at @jcpnews on Twitter

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

Source:  J. C. Penney Company, Inc.

Posted on by

JCPenney debuts Libby Edelman® lifestyle brand for time-strapped women

JCPenney debuts Libby Edelman® lifestyle brand for time-strapped women

 

Legendary Footwear Designer Brings Exclusive Collection of Shoes, Handbags, Apparel and Accessories to 500 JCPenney Stores

PLANO, Texas, 2017-Jun-13 — /EPR Retail News/ — JCPenney [NYSE: JCP] is stepping up its fashion game with the debut of Libby Edelman®, a lifestyle brand featuring irresistible fashion for time-strapped women. Inspired by Libby Edelman, creative visionary and co-creator of Sam & Libby® and Sam Edelman®footwear, the exclusive namesake brand boasts footwear, handbags, casual clothing and accessories that exude effortless style for a busy life. A special preview collection spotlighting summer dresses, casual footwear and lightweight crossbody bags debuts in 500 stores and at JCPenney.com beginning July 14, followed by a full launch on Sept. 8. The complete fall line-up will include a wider assortment of embroidered boots, sleek totes, feminine blouses in striking prints, layering jackets, versatile dresses, scarves, necklaces and trend hosiery.

“As we move to revitalize our women’s business at JCPenney, we want to attract new customers by expanding our women’s contemporary assortment and infusing newness into our brand portfolio through unique designer partnerships,” said John Tighe, chief merchant for JCPenney. “Libby Edelman is the latest collection to showcase this new strategy as we move toward meeting customer demand for more trendy, casual fashion.”

The Libby Edelman brand will encompass an eclectic mix of free-spirited looks offering modern pieces influenced by seasonal trends. In July, a selection of fashion sneakers, ankle-strap flats, peep-toe booties and crossbody handbags with embroidery and grommet accents will perfectly complement a limited edition of summer dresses. September will mark the debut of the full Libby Edelman lifestyle collection featuring shoes, handbags, apparel, fashion jewelry, accessories and hosiery, which will be prominently displayed throughout the women’s floor.

“As a busy working mom, I always wanted clothes, shoes and accessories with a simple, elegant and unique feel that made putting together a great look effortless. The Libby Edelman collection is ideal for every woman who has this similar desire,” said Libby Edelman. “While the collection simplifies everyday wardrobe choices, my hope is to give women the freedom and inspiration to combine pieces from the collection in ways that help them express new aspects of their personal style.”

Rooted in footwear, Libby Edelman will offer signature fashion flats, stacked heels, sling-back pumps and calf-high boots. The handbag collection will include a compelling mix of styles from suede hobo bags with tassels to chic, functional totes. Both will have elevated luxe details such as velvet fabrics and shiny embellishments for perfect trend-relevant looks. Apparel will include blouses, dresses, pants and jackets that blend floral and leopard prints, as well as tribal patterns with fall colors such as olive, blue, burgundy and purple. Chokers, pendants, statement earrings, bangles, scarves, belts and contemporary hosiery will inspire shoppers to create a head-to-toe look.

Libby Edelman will personally host the #SoWorthIt video series and serve as a mentor to modern American moms by sharing tips on how to achieve great style for a busy life. Customers can access the series through the JCPenney YouTube channel at www.youtube.com/jcpenney. The Libby Edelman collection will be shared, posted and pinned across multiple JCPenney social media channels, including Instagram and Pinterest, in addition to traditional marketing channels.

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

###

Posted on by

JCPenney launches dorm shops in stores and online

JCPenney launches dorm shops in stores and online

 

Many stores are located within 5 miles of most major colleges, offering convenient in-store pick up of dorm furnishings, including new compact refrigerators and laptops

PLANO, Texas, 2017-Jun-07 — /EPR Retail News/ — The high school class of 2017 is off to college this fall and JCPenney [NYSE: JCP] is the dorm destination of their collegiate dreams. JCPenney is launching dorm shops in 500 stores this week, featuring a curated selection of bedding, bath and décor products designed to entice recent high school graduates and their parents who are shopping early in the season for dorm room essentials. New this year, the 400-square-foot shops will now offer mini refrigerators, microwaves, portable air conditioning units, expanded storage solutions, and later this month, Packard Bell laptops. With an extended selection of dorm products available at JCPenney.com, customers have the option of shipping online orders to a JCPenney store located close to campus to make moving day easy and effortless.

“It is estimated that parents and students will spend more than $6 billion* on dorm furnishings this summer. JCPenney is focused on driving performance and capturing a significant share of this business by expanding the breadth of our dorm offerings to include new categories, such as microwaves and compact refrigerators, conveniently available in stores and online,” said John Tighe, executive vice president and chief merchant for JCPenney. “Our seasonal dorm shops boast high-quality bedding, bath and kitchen products from our expertly-designed and quality-sourced private brands, including JCPenney Home, Home Expressions and Cooks. Customers come to us specifically for these trusted brands, allowing JCPenney to increase gross margin potential, while providing exceptional value for budget-minded shoppers.”

Ship dorm furnishings to any JCPenney store
JCPenney has brick-and-mortar stores throughout the country, with many locations just a few miles away from the country’s largest colleges and universities. This convenient store footprint allows parents to purchase dorm room essentials at JCPenney.com and have the order shipped directly to the nearest JCPenney store, reducing the need to personally pack and transport these items over long distances. If a student forgets their sheets or coffee maker at home, JCPenney just expanded its convenient same-day store pickup solution to all stores, so parents can purchase the sheets at JCPenney.com and their college student can pick up the order just a few hours later at their local JCPenney store.

“JCPenney has a sophisticated omnichannel network with a variety of convenient shipping options, which can be especially important as students head off to college. We have the benefit of leveraging our store fleet to deliver JCPenney.com orders quickly, efficiently and at a low cost to the customer, representing an opportunity to drive additional sales. These factors become especially important as new college students realize they need more towels, forget their pillow at home or want to purchase a portable a/c unit for their dorm room,” added Tighe.

Dorm done right
College-bound students are often eager to show their school pride by stocking up on their favorite team apparel and room décor from over 500 colleges available through the Sports Fan Shop at JCPenney.com. In select stores, shoppers will find an assortment of collegiate gear and accessories, such as a Texas A&M University blanket, a University of Arizona logo pillow or a West Virginia University laundry hamper. To help students set up the perfect dorm room, JCPenney has created the ultimate Dorm Essentials Checklist. The checklist has all the dorm necessities listed in one place including XL twin sheets, dorm-appropriate cookware, mattress toppers, bath towels, clothes hangers, desk lamps, alarm clocks and more.

The Company has compiled a list of stores located within just a few miles of major college campuses to demonstrate the convenience of having online orders shipped to a local JCPenney store. For additional JCPenney store locations, please visit JCPenney.com and select ‘find a store.’

STATE SCHOOL NAME NEAREST JCPENNEY STORE DISTANCE
AL University of Alabama University Mall 2 mi.
AZ Arizona State University Tempe Marketplace 1.4 mi.
AZ University of Arizona El Con Shopping Center 2.5 mi.
AR University of Arkansas Northwest Arkansas Mall 6.2 mi.
CA San Diego State University Fashion Valley Mall 7.4 mi.
CA University of Southern California Gage & Pacific Store 5.8 mi.
CO Colorado State University Fort Collins Store 2.6 mi.
FL Florida State University Governors Square 2.7 mi.
FL University of Florida Oaks Mall 3.5 mi.
FL University of Miami Dadeland Mall 1.7 mi.
GA Emory University Northlake Mall 5.7 mi.
GA Georgia Southern University Statesboro Mall 1.5 mi.
GA University of Georgia Georgia Square Mall 5.7 mi.
ID Boise State University Boise Town Square 4.8 mi.
IA Iowa State University North Grand Mall 1.6 mi.
IA University of Iowa Coral Ridge Mall 3.2 mi.
IL University of Illinois Market Place Mall 3.6 mi.
IN Purdue University Tippecanoe Mall 4.4 mi.
IN University of Notre Dame University Park Mall 2.2 mi.
KS Kansas State University Manhattan Town Center 1.8 mi.
KY University of Kentucky Fayette Mall 3 mi.
KY University of Louisville Jefferson Mall 7.6 mi.
KY Western Kentucky University Greenwood Mall 4.1 mi.
LA Louisiana State University Mall of Louisiana 7.4 mi.
MI Michigan State University Meridian Mall 2.8 mi.
MI University of Michigan Briarwood Mall 2.9 mi.
MO University of Missouri Columbia Mall 3.5 mi.
MS Mississippi State University Starkville Crossing 3.6 mi.
MT University of Montana Southgate Mall 2.2 mi.
NE University of Nebraska Gateway Mall 3.2 mi.
NJ Rutgers University Brunswick Square Mall 7.7 mi.
NM New Mexico State University Mesilla Valley Mall 2.9 mi.
NY Syracuse University Destiny USA Store 3.1 mi.
NC North Carolina State University North Hills Shopping Center 6.4 mi.
NC University of North Carolina Streets of Southpoint 7.5 mi.
NC Wake Forest University Hanes Mall 5 mi.
ND University of North Dakota Columbia Mall 2.8 mi.
OH Ohio State University Tuttle Crossing Mall 7.9 mi.
OK University of Oklahoma Sooner Fashion Mall 3.5 mi.
OR University of Oregon Valley River Center 3.4 mi.
SC Clemson University Anderson Mall 14 mi.
SC University of South Carolina Columbiana Center Mall 10.8 mi.
TN University of Tennessee West Town Mall 7.3 mi.
TX Baylor University Richland Mall 7.1 mi.
TX Southern Methodist University Timber Creek Crossing 2.3 mi.
TX Texas A&M University Post Oak Mall 2.2 mi.
TX Texas Christian University Ridgmar Mall 6.8 mi.
TX Texas Tech University South Plains Mall 5.3 mi.
TX University of Texas at Arlington Parks Mall 3.6 mi.
TX University of Texas at Austin Barton Creek Square 9.6 mi.
UT Brigham Young University Provo Towne Center 2.5 mi.
VA University of Virginia Fashion Square 3.2 mi.
WA University of Washington Northgate Mall 3.4 mi.
WV West Virginia University Morgantown Mall 3.2 mi.
WI University of Wisconsin West Towne Mall 5 mi.

For a full selection of collegiate gear and accessories from JCPenney, please visit:
http://sportsfanshop.jcpenney.com/JCP_COLLEGE

For dorm product images, please visit the Dorm 2017 look book:
http://www.jcpnewsroom.com/lookbooks-bts2017-home-dorm.html

*National Retail Federation 2016 Back-to-College Survey
https://nrf.com/media/press-releases/back-school-and-college-spending-reach-758-billion

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

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.

###

Posted on by

JCPenney appoints Marci Grebstein as executive vice president, chief marketing officer

PLANO, Texas, 2017-May-24 — /EPR Retail News/ — JCPenney [NYSE: JCP] today (May 23, 2017) announced that Marci Grebstein will join the Company’s executive leadership team as executive vice president, chief marketing officer in June. A highly accomplished marketing executive, Grebstein brings over 20 years of retail marketing experience overseeing advertising campaigns, brand positioning, market analysis and digital strategies designed to enhance brand awareness and accelerate revenue growth. Grebstein will report to Chairman and Chief Executive Officer Marvin R. Ellison.

“Marci is an outstanding senior leader with a proven track record of developing winning marketing strategies for a diverse cross-section of leading national retailers,” said Ellison. “As we focus on enhancing our Home Refresh strategy, better utilizing customer data and optimizing our omnichannel capabilities, her broad retail expertise will be invaluable as we seek to differentiate our business through strategic marketing initiatives that will entice new and loyal customers to choose JCPenney for their homes and families.”

Grebstein most recently served as chief marketing officer for Lowe’s Home Improvement, where she was instrumental in driving an integrated and data-driven omnichannel marketing approach to build customer loyalty and position the company for continued growth. Prior to her role as chief marketing officer for Lowe’s, she served as vice president of advertising for the retailer, leading the development and execution of Lowe’s overall advertising strategy and ensuring that the company’s brand promise was brought to life consistently across all platforms.

Prior to joining Lowe’s, Grebstein worked for Food Lion of Delhaize America, overseeing the repositioning of the grocery store chain in her role as vice president of marketing and brand strategy. Grebstein also spent 16 years at Staples, Inc., holding positions of increasing responsibility to include vice president of business-to-business marketing and e-commerce. Grebstein holds a Bachelor of Science degree in management and marketing from Boston College.

“I have been inspired by the continued progress of one of America’s most iconic retailers in the midst of a highly competitive and ever evolving retail environment,” said Grebstein. “I am eager to begin working with Marvin and the entire team at JCPenney to lead a marketing strategy that will continue to build on the Company’s momentum in achieving sustainable growth and profitability.”

About JCPenney:

J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands.  Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

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

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

Source: J. C. Penney Company, Inc.

Posted on by

JCPenney launches B2B solutions for operators and facility managers in the hospitality and multi-unit residential industries

Retailer equipped to supply linens, towels, mattresses, window treatments and major appliances to hotels, vacation rentals and multi-unit properties

PLANO, Texas, 2017-May-19 — /EPR Retail News/ —As JCPenney [NYSE: JCP] continues to diversify and explore new business opportunities, the Company is expanding upon its successful home refresh growth initiative by offering business-to-business solutions for operators and facility managers in the hotel and lodging industry, as well as the multi-unit residential industry. The Company has a long history of designing and sourcing high-quality home textiles, and with its recent re-entry into the major appliance market in 2016, JCPenney is poised to affordably accommodate hotels, innkeepers, property management companies and more to fulfill their commercial and bulk purchase needs.

“While we continue to take steps to improve our apparel strategy and assortment, we see our home refresh initiative as a great vehicle for growth and differentiation. The U.S. hospitality industry represents approximately $200 billion* annually and a significant opportunity for JCPenney to gain market share and drive increased revenue per customer with major appliances and a renewed focus on soft home goods,” said Marvin R. Ellison, chairman and chief executive officer of JCPenney. “Our entry into the B2B program reinforces our home refresh initiative, while providing new and innovative ways to achieve sustainable growth and profitability. The idea first stemmed from hotel operators who were already ordering large volume purchases of bedding, bath and window treatments from JCPenney.com. We are staffing an outside sales force with experience and expertise to engage targeted businesses. Our broad assortment of private brands in soft home give us a unique cost and value advantage in this new and exciting space.”

The JCPenney B2B program utilizes the Company’s nationwide fleet of brick-and-mortar stores and its vast supply chain network to meet the needs of small business owners and connect with local communities. JCPenney offers an important competitive advantage by being one of the most experienced retail sourcing organizations in the industry. By hedging raw materials, working with a strong supplier base in over 30 countries and implementing a rapid production cycle time, JCPenney gives business clients the assurance that they are receiving the best quality products when they need them.

According to a recent survey, there are roughly five million hotel rooms in more than 52,000 properties in the U.S. today.** Hotel rooms have one or two beds requiring multiple sets of sheets, blankets, pillows, towels and window treatments, which could be furnished with luxurious, yet durable linens from JCPenney Home™ or Royal Velvet®. JCPenney also stocks uniforms, scrubs and basic workwear, as well as major appliances, including large capacity washers, dryers, refrigerators and microwaves from leading industry brands. These appliances are used to furnish apartments, condos and townhomes managed by commercial property groups across the country.

Firming up Mattress Sales
The JCPenney B2B solution also provides custom window treatments, furniture and mattresses. Mattress sales have been so successful among traditional shoppers, the Company will be expanding its mattress showrooms to an additional 300 stores by early fall. This expansion will feature the industry’s leading brands such as Serta®, iComfort®, Sealy®, Stearns & Foster®, along with Beautyrest® and Tempur-Pedic® that will be available in over 500 JCPenney mattress showrooms chain wide. From firm to ultra-plush, pillow top to memory foam, JCPenney has reorganized its mattress showrooms to help customers shop by comfort level and response has been overwhelming.

By working with JCPenney B2B solutions, small business owners and non-profit organizations will receive competitive discounts, bulk pricing, commercial credit offers and tax exemptions for eligible businesses. Business clients will also have the ability to customize their order with a dedicated team of B2B consultants specially trained in this area.

Businesses that are interested in learning more about the B2B solutions that JCPenney has to offer can email b2b-sm@jcp.com.

This release, along with other Company announcements, photos and videos are available for download at jcpnewsroom.com. Media and other stakeholders are encouraged to follow the Company’s corporate Twitter handle using @jcpnews.

*STR, Inc. 2017 HOST Almanac
**2015 STR, Inc. census database

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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, gross margin, selling, general and administrative expenses, earnings and cash flows. 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 Companys 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 non-core 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 including EMV chip technology, 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 Companys 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 @jcpnews on Twitter

Source: J. C. Penney Company, Inc.

Posted on by

JCPenney, SEPHORA add 70 new SEPHORA inside JCPenney locations and 32 expansions

JCPenney, SEPHORA add 70 new SEPHORA inside JCPenney locations and 32 expansions

 

  • SEPHORA inside JCPenney Stores Offer Same-Day Pick Up of Online Orders
  • Growth Spurs Expanded Assortment Online and the Hiring of Over 800 Beauty Consultants

PLANO, Texas, 2017-Apr-25 — /EPR Retail News/ — JCPenney [NYSE: JCP] and SEPHORA are making beauty accessible to even more customers across the country with the addition of 70 new SEPHORA inside JCPenney locations and 32 expansions beginning May 5. Introduced in 2006, SEPHORA inside JCPenney is an exclusive beauty destination offering a curated selection of leading makeup, fragrances, skin and haircare brands that will be available in nearly 650 JCPenney stores in 2017.

“Creating a best-in-class beauty experience in stores is one of our biggest advantages over the competition. Since establishing the first Sephora inside JCPenney over 10 years ago, beauty has become a formidable growth strategy that makes our brick and mortar stores a dynamic and inspiring place to shop,” said Marvin R. Ellison, chairman and CEO of JCPenney. “We are also taking an omnichannel approach to shopping Sephora inside JCPenney by strengthening our technology and infrastructure to reach new beauty customers through JCPenney.com. We’ve launched the ability for customers to purchase Sephora online and pick up their order at a JCPenney store the same day. This is one example of how we’re delivering on the customer’s expectations for accessibility and convenience.”

With new innovations inspiring constant demand for beauty, JCPenney has significantly expanded its SEPHORA offering to include a broader assortment of products, tools, shades, colors and fragrances available at JCPenney.com. And soon, JCPenney will also introduce a new online feature that will enable clients to book a comprehensive custom makeover with a SEPHORA beauty consultant.

SEPHORA inside JCPenney shops feature a unique open-sell environment encompassing up to 2,600 square feet of cosmetics, skincare, fragrance and beauty accessories. In addition to the 70 new locations opening over the next few months, 32 existing SEPHORA inside JCPenney shops will expand in size by nearly 50 percent to accommodate more products and client services, such as Benefit Brow Bars, which will be introduced to 25 new and existing SEPHORA inside JCPenney locations. A key component of the SEPHORA inside JCPenney experience are the beauty consultants who provide unbiased expert advice on color trends, skincare and grooming solutions. As part of the beauty expansion, the Company will hire an additional 800 consultants nationwide.

SEPHORA inside JCPenney features an expansive array of more than 50 brands including Origins®, SEPHORA Collection, Kat Von D®, Make Up For Ever®, Nars®, Urban Decay® and Kate Somerville®. Starting this spring, Clinique®, one of America’s leading cosmetic brands, as well as, Anastasia Beverly Hills, belif, Laura Mercier®, Caudalie®, Farmacy®, Fresh® and Tarte® will expand to additional SEPHORA inside JCPenney locations. SEPHORA inside JCPenney also has new haircare brands such as Dry Bar®, Living Proof® and Bumble and bumble® now available in stores. To discover which brands meet their needs, clients are encouraged to try and test product samples as specially trained beauty consultants provide recommendations.

“We are exceptionally proud of our SEPHORA inside JCPenney partnership. JCPenney is a powerhouse retailer, and we are excited to share the SEPHORA experience with even more JCPenney customers this year,” said Satish Malhotra, executive vice president and chief operating officer of Sephora Americas. “As we celebrate 10 years together, we look forward to serving more markets that we have not yet reached, inspiring our new and existing clients to learn, play and get inspired by beauty.”

JCPenney is one of the only retailers to offer a comprehensive beauty and fashion solution that addresses women’s aspirations for a pulled together head-to-toe look. To encourage cross-promotion within the store, JCPenney salons and SEPHORA inside JCPenney will support a special “Love Mom” event planned for May 6, in participating stores. The dedicated Mother’s Day event will provide complimentary skin and hair consultations, including Xpress Bar salon touch-ups.

For a complete list of SEPHORA inside JCPenney 2017 openings, expansions and images, please visit jcpnewsroom.com/SephorainsideJCPenney.

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

About SEPHORA Americas:
Bold, Boundless, addictive – SEPHORA. A revolutionary beauty retailer, SEPHORA has been changing the face of prestige cosmetics since its industry-shaking debut in 1970s Paris. SEPHORA was acquired by leading luxury group LVMH Moët Hennessy Louis Vuitton in 1997 and launched its innovative concept stateside in 1998, where its dynamic, open-sell atmosphere evolved by merging the freedom of experimentation and product discovery with the expertise of personal consultants. Today, stores are home to a curated assortment of 200 world-class brands – including classics, cult favorites, emerging collections and SEPHORA’s own private label, SEPHORA COLLECTION – and feature more than 14,000 unique products across makeup, skincare, perfume, haircare, body, professional tools, and more. Powered by SEPHORA University, SEPHORA is the beauty education hub, offering customized consultations at the Beauty Studio, a variety of complimentary classes and one-on-one service from Personal Beauty Advisors, along with exclusive retail technology including SKINCARE IQ, COLOR IQ and Scentsa, resulting in the most expansive educational services in beauty retail. With over 1,780 locations in 29 countries – including 370 in North America and 546 SEPHORA inside JCPenney locations – SEPHORA is an international force in beauty. Adding to its global retail network, SEPHORA’s award-winning website, SEPHORA.com, and its every-growing presence on Twitter, Facebook and Pinterest, make it the world’s premier digital beauty destination. SEPHORA’s vibrant, interactive online community, Beauty Talk, amplifies the in-store experience by offering clients exclusive access to personalized beauty advice from SEPHORA’s PRO Artistry Team and provides a platform for open dialogue with beauty aficionados from around the world. For the latest in beauty, please visit SEPHORA.com.

Media Relations:
(972) 431-3400
jcpnews@jcp.com
Follow us @jcpnews

Source: J. C. Penney Company, Inc.

###

Posted on by

JCPenney partners with leading manufacturers and service providers to help customers with their home improvement plans

JCPenney Home Services

Test stores feature service displays for HVAC, bathroom remodeling, home water solutions and more

PLANO, Texas, 2017-Mar-14 — /EPR Retail News/ — As homeowners continue to invest a larger percentage of their disposable income on home upgrades, JCPenney [NYSE: JCP] is capitalizing on the strong housing market by launching JCPenney Home Services™ this month. By partnering with the industry’s leading manufacturers and service providers, such as Samsung and Trane®, JCPenney Home Services is planning to test six programs in select markets to establish its relevance and appeal among shoppers. These programs will provide turn-key services for heating and cooling systems, bathroom remodeling, quick ship and installed blinds, whole home water solutions and awnings, as well as easy-to-install smart home devices.

“With the resurgence of the housing market, consumers are spending more than $300 billion annually to upgrade their homes since nearly two-thirds of the nation’s homes are over 30 years old.* There is a tremendous opportunity to capture additional revenue and minimize our dependence on apparel by catering our services to female homeowners who represent over 70 percent of our loyal customer base, and make the primary decisions regarding any home renovations,” said Marvin Ellison, chairman and chief executive officer of JCPenney. “These are categories that JCPenney offered in its assortment many years ago, and we believe the timing is right to re-enter home services in order to acquire available market share and differentiate our business from our traditional competitors and pure e-commerce retailers.”

Each program will be presented as an informative, compact display located within the home department in approximately 100 stores this spring, with services and marketing varying by location. The Company has also launched a digital storefront at jcpenneyhomeservices.com, where users can shop the range of professional services offered and schedule an in-home consultation. An authorized contractor will then determine the scope of the job and provide an estimate for the total cost. JCPenney will introduce a JCPenney Home Services credit card this summer, enabling customers to take advantage of attractive promotional financing offers.

Established homeowners investing in older homes look to nationally recognized, trusted brands to help with their home improvement plans, which is why JCPenney has chosen to partner with some of the leading providers in each industry for installation and service. Customers will have the peace of mind that their project is completed to their total satisfaction, as these brands employ authorized installers who are experienced, licensed and insured. The Company is leveraging her confidence in JCPenney to deliver fast and efficient improvements from a retail brand she has long trusted to furnish her family’s home.

“JCPenney has the unique competitive advantage of a strong female customer base who has a vision for the home upgrade she wants, and will research various options and companies that offer a high level of quality and service. Much like our successful return to major appliances, we will pursue these new home services initiatives using the same multimarket test-and-learn approach,” Ellison added. “Home services presents a low-risk opportunity to drive sales with minimal investment in inventory and capital resources since we are partnering with the industry’s leading providers for service and installation.”

Living Smarter at Home
Smart home technology is surging in popularity as consumers are finding more convenience, safety and security in connected devices, as well as discovering energy savings with automation. One-third of U.S. homes have at least one connected device today and within four years, household penetration is expected to increase up to 60 percent.**

JCPenney has chosen to pilot a compelling selection of smart home technology in select stores this spring. A unique category addition to the home department, JCPenney has partnered with the industry’s leading brands like Samsung to provide simple smart home automation. With Samsung SmartThings, consumers can control and automate lighting, cameras, thermostats, door locks and more, from the iOS or Android SmartThings app or supported voice assistants. By offering shoppers the most intelligent technology available, JCPenney is helping to make customers’ homes smarter, safer and more comfortable.

JCPenney Home Services complements the soft and hard home furnishings available at JCPenney, including major appliances, furniture and flooring. A popular destination for ready-made curtains, blinds, shades and decorative hardware, JCPenney has also offered custom design and installation of in-home window treatments for nearly 60 years. This service is available today in more than 350 locations.

For historical images of home services at JCPenney, please contact DeGolyer Library, Southern Methodist University at degolyer@smu.edu.

For current store images of the home department, please visit:
http://www.jcpnewsroom.com/news-releases/2017/0313_expands_home_services.html

* John Burns Real Estate Consulting and the Harvard Joint Center for Housing Studies
** Statista, market research firm

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

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

SOURCE: J.C. Penney Corporation, Inc.

Posted on by

JCPenney announces the election of Debora Plunkett to its board of directors

Colleen Barrett to Retire from the Board in May

PLANO, Texas, 2017-Mar-06 — /EPR Retail News/ — J. C. Penney Company, Inc. (NYSE:JCP) today (March 2, 2017) announced the election of Debora Plunkett, former senior advisor to the director of the U.S. National Security Agency (NSA), to its board of directors. Possessing extensive experience in cybersecurity, information assurance and innovation in information security, Plunkett has a deep understanding of the data-driven and interconnected world of today.

“Debora has a strong background in information management and technology, and has been trusted by some of the nation’s top leaders to deliver robust security solutions and policies for the U.S. government,” said Marvin R. Ellison, chairman and CEO of JCPenney. “Her distinguished background brings tremendous value to our board as JCPenney continues on a path to becoming a world-class omnichannel retailer.”

Most recently, Plunkett has served as a professor at University of Maryland University College teaching graduate-level cybersecurity courses. She also provides consultation on cybersecurity, information assurance and management topics at her firm, Plunkett Associates LLC. Prior to these positions, she served as senior advisor to the director of the NSA, leading efforts to develop and deliver solutions to improve diversity, inclusion and equality for a highly technical workforce. Prior to that, Plunkett served as director and deputy director of information assurance for the NSA, managing the agency’s information assurance and cyber defense mission, and also held a variety of executive leadership, supervisory and analytical roles for the NSA. She also served as director for the Office of Transnational Threats at the National Security Council of The White House. Plunkett currently serves as a strategic advisory board member for the International Consortium for Minority Cybersecurity Professionals and an advisory board member for CyberMaryland.

Plunkett has a B.S. degree in natural science from Towson University, a Master of Science in business from Johns Hopkins University, a Master of Science in national security strategy from National War College and an M.B.A. from Johns Hopkins University.

The Company also announced that Colleen Barrett, President Emeritus of Southwest Airlines Co., will retire from the Board at the end of her term, which concludes on May 19, 2017, at the Company’s Annual Meeting of Stockholders. Barrett joined the JCPenney board in 2004, and currently chairs the corporate governance committee.

“Colleen is a trusted member of our board, and her legacy of building award-winning customer service at Southwest Airlines has benefitted JCPenney for over 13 years,” said Ellison. “Not only has Colleen been a respected member of the board, her enthusiasm and passion for JCPenney was instrumental in sparking the Warrior Spirit among JCPenney associates in recent years, leading to a strong resurgence in our Company culture. We thank her for her service, and wish her well in future endeavors.”

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

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

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

Source: J. C. Penney Company, Inc.

Posted on by

JCPenney achieves $1 Billion in EBITDA for Full Year 2016; a $477 Million Improvement

  • Operating Income Grew $292 Million in Fourth Quarter and $484 Million for Full Year

PLANO, Texas, 2017-Feb-27 — /EPR Retail News/ — J. C. Penney Company, Inc. (NYSE: JCP) today (Feb. 24, 2017) announced financial results for its fiscal fourth quarter and full year ended Jan. 28, 2017. Comparable store sales were (0.7) % for the fourth quarter and flat for the full year. On a two-year stack basis, comparable sales grew 3.4 % and 4.5 % for the fourth quarter and full year, respectively. The Company delivered a $514 million improvement in net income for the full year.

Marvin R. Ellison, chairman and chief executive officer, said, “We are pleased that in the face of a very challenging 2016 retail environment we delivered our first positive net income since 2010. As recent as 2013, JCPenney reported a net loss of nearly $1.3 billion, or ($5.13) per share, and negative EBITDA of $641 million. This year, we delivered positive net income and generated EBITDA of over $1 billion. This is a reflection that the growth initiatives we laid out at our analyst meeting are working. These initiatives drove significant category growth in the fourth quarter, and provide us a platform to build upon in the years to come. Although our quarter was negatively impacted by the first three weeks of November, we are pleased that we delivered positive sales comps in the combined December and January period. We also saw record online performance over the holiday season, and with our continued focus on improved site functionality, expanded and enhanced fulfillment and continued growth in our assortment, we know this will allow us to deliver significant growth in the digital business.”

Ellison continued, “This year was not without its challenges, particularly in our women’s apparel business, but I am proud this team delivered on our goal to return our company to profitability in 2016. This is no small feat when considering the situation a few years ago, but our over 100,000 associates embraced our strategy and came to work each day focused on doing their part to drive this incredible turnaround in profitability.”

Fourth Quarter Results

JCPenney reported net sales of $4.0 billion in the fourth quarter of 2016 and 2015. Comparable store sales were (0.7) % for the quarter.

Home, Sephora, Salon and Fine Jewelry were the Company’s top performing merchandise divisions during the quarter. Geographically, the Southeast and Pacific were the best performing regions of the country.

For the fourth quarter, gross margin was 33.1 % of sales, a 100 basis point decline compared to the same period last year. Gross margin was impacted primarily by increased promotional activity during the quarter, coupled with the continued growth in both online and major appliances.

SG&A expenses for the quarter were down $37 million to $925 million, or 23.4 % of sales, representing a 70 basis point improvement from last year. These savings were primarily driven by lower incentive compensation and store controllable costs.

For the fourth quarter, the Company delivered a $323 million improvement in net income over the prior year to $192 million or $0.61 per share. Adjusted earnings improved $81 million to $0.64 per share for the fourth quarter this year compared to $0.39 per share last year. Adjusted earnings excludes charges primarily associated with restructuring costs, supplemental retirement plans mark-to-market adjustments and the tax impact resulting from other comprehensive income allocation.

EBITDA improved $288 million to $427 million for the quarter, including the $62 million gain on the home office sale, a 207 % improvement from the same period last year. Adjusted EBITDA for the quarter improved $68 million or 18 % to $449 million.

Full Year Results

For the full year 2016, JCPenney reported net sales of $12.5 billion compared to $12.6 billion in 2015, a (0.6) % decrease. Comparable store sales were flat for the year.

For the year, gross margin decreased 30 basis points to 35.7 % from 36.0 % in the prior year.

SG&A expenses for the full year decreased $237 million to $3.5 billion, or 28.2 % of sales, representing a 170 basis point improvement from last year. These savings were primarily driven by lower incentive compensation, store controllable costs, lower corporate overhead and more efficient advertising spend.

For the full year, the Company delivered a $514 million improvement in net income over the prior year to $1 million or $0.00 per share compared to ($1.68) per share last year. Adjusted earnings per share improved to $0.08 per share for the year compared to ($1.03) per share last year.

EBITDA improved $477 million, including the $62 million gain on the home office sale, to $1.0 billion for the year, a 91 % improvement compared to last year. Adjusted EBITDA for the year improved $294 million to $1.0 billion, a 41 % improvement versus last year.

Inventory at year-end was $2.85 billion, an increase of 4.9% compared to last year-end. Approximately 370 basis points of the increase was driven by floor samples for appliance showrooms and higher inventory levels to support the Company’s continued investment in new Sephora shops. Other basic replenishment inventory accounted for an additional 260 basis points of the increase in inventory. These increases were partially offset by decreases in fashion and seasonal apparel and other inventory levels.

A reconciliation of GAAP to non-GAAP financial measures is included in the schedules accompanying the consolidated financial statements in this release.

Outlook

The Company’s 2017 full year guidance, which includes the expected impact of store closures, is as follows:

  • Comparable store sales: expected to be -1% to +1%;
  • Gross margin: expected to be up 20 to 40 basis points versus 2016;
  • SG&A dollars: expected to be down 1 to 2% versus 2016;
  • Adjusted earnings per share1: expected to be $0.40 to $0.65.

1 A reconciliation of non-GAAP forward-looking projections to GAAP financial measures is not available as the nature or amount of potential adjustments, which may be significant, cannot be determined at this time.

(Editor’s Note: This morning, JCPenney, Inc. also issued a separate news release announcing plans to optimize retail operations, advance growth and drive profitability)

Fourth Quarter and Full Year Earnings Conference Call Details

At 8:30 a.m. ET today, the Company will host a live conference call conducted by chairman and chief executive officer Marvin R. Ellison and chief financial officer Ed Record. Management will discuss the Company’s performance during the quarter and take questions from participants. To access the conference call, please dial (844) 243-9275, or (225) 283-0394 for international callers, and reference 66598627 conference ID or visit the Company’s investor relations website at http://ir.jcpenney.com. Supplemental slides will be available on the Company’s investor relations website approximately 10 minutes before the start of the conference call.

Telephone playback will be available for seven days beginning approximately two hours after the conclusion of the conference call by dialing (855) 859-2056, or (404) 537-3406 for international callers, and referencing 66598627 conference ID.

Investors and others should note that we currently announce material information using SEC filings, press releases, public conference calls and webcasts.  In the future, we will continue to use these channels to distribute material information about the Company and may also utilize our website and/or various social media to communicate important information about the Company, key personnel, new brands and services, trends, new marketing campaigns, corporate initiatives and other matters.  Information that we post on our website or on social media channels could be deemed material; therefore, we encourage investors, the media, our customers, business partners and others interested in our Company to review the information we post on our website as well as the following social media channels:

Any updates to the list of social media channels we may use to communicate material information will be posted on the Investor Relations page of the Company’s website at www.jcpenney.com.

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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, gross margin, selling, general and administrative expenses, earnings and cash flows. 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 Companys 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 non-core 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 including EMV chip technology, 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 Companys 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 @jcpnews

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

Facebook (https://www.facebook.com/jcp)

Twitter (https://twitter.com/jcpnews).

Source: J. C. Penney Company, Inc.

Posted on by

JCPenney to close two distribution facilities and approximately 130 – 140 stores to optimize its retail operations

PLANO, Texas, 2017-Feb-27 — /EPR Retail News/ — J. C. Penney Company, Inc. (NYSE: JCP) today (Feb. 24, 2017) announced it is implementing a plan to optimize its national retail operations as part of the Company’s successful return to profitability. Under the plan, the Company expects to close two distribution facilities and approximately 130 – 140 stores over the next few months. These strategic decisions will help align the Company’s brick-and-mortar presence with its omnichannel network, thereby redirecting capital resources to invest in locations and initiatives that offer the greatest revenue potential.

“In 2016, we achieved our $1 billion EBITDA target and delivered a net profit for the first time since 2010; however, we believe we must take aggressive action to better align our retail operations for sustainable growth. During the year, it became evident the stores that could fully execute the Company’s growth initiatives of beauty, home refresh and special sizes generated significantly higher sales, and a more vibrant in-store shopping environment,” said Marvin R. Ellison, chairman and chief executive officer of JCPenney. “We believe the relevance of our brick and mortar portfolio will be driven by the implementation of these initiatives consistently to a larger percent of our stores. Therefore, our decision to close stores will allow us to raise the overall brand standard of the Company and allocate capital more efficiently.”

“We understand that closing stores will impact the lives of many hard working associates, which is why we have decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates. By coordinating the timing of these two events, we can expect to see a net increase in hiring as the number of full-time associates expected to take advantage of the early retirement incentive will far exceed the number of full-time positions affected by the store closures,” added Ellison.

“We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers. Maintaining a large store base gives us a competitive advantage in the evolving retail landscape since our physical stores are a destination for personalized beauty offerings, a broad array of special sizes, affordable private brands and quality home goods and services. It is essential to retain those locations that present the best expression of the JCPenney brand and function as a seamless extension of the omnichannel experience through online order fulfillment, same-day pick up, exchanges and returns,” said Ellison.

“While many pure play e-commerce companies are experiencing dramatically increasing fulfillment costs, we are pleased with the double digit growth of jcpenney.com and how leveraging our brick and mortar locations is enabling us to offset the last-mile delivery cost. We believe the future winners in retail will be the companies that can create a frictionless interaction between stores and e-commerce, while leveraging physical locations to minimize the growing operational costs of delivery. In fact, in 2016 approximately 75% of all online orders touched a physical store. Even with a reduced store count, JCPenney is competitively positioned to deliver a differentiated department store model that meets the expectations of a digital world with an inspiring, tangible shopping environment,” Ellison added.

As a result of the store actions, JCPenney will close a distribution center located in Lakeland, Fla. in early June, at which time operations will transfer to the Company’s logistics facility in Atlanta as part of a strategic effort to streamline store support services. The Company also is in the process of selling its supply chain facility in Buena Park, Calif. in an effort to monetize a lucrative real estate asset.

Associates who will be impacted by the store and distribution center closures will receive separation benefits, which includes assistance identifying other employment opportunities and outplacement services such as resume writing and interview preparation.

Eligibility for the Voluntary Early Retirement Program (VERP) will generally include home office, stores and supply chain personnel who met certain criteria related to age and years of service as of Jan. 31. Approximately 6,000 associates are eligible for the program. Current costs and future savings will be based on the number of associates who accept on or before March 17 when the consideration period expires. The Company’s qualified pension plan will remain in a well-funded status post VERP. No cash contributions to the pension plan are anticipated for the foreseeable future. Charges related to the VERP, of which the vast majority will be non-cash, will be reported in the Company’s first quarter fiscal 2017 results.

FINANCIAL IMPACT
The total store closures represent approximately 13 – 14 % of the Company’s current store portfolio, less than 5% of total annual sales, less than 2% of EBITDA and 0% of net income. The stores identified for closure either require significant capital to achieve the Company’s new brand standard or are minimally cash flow positive today relative to the Company’s overall consolidated average. Comparable sales performance for the closing stores was significantly below the remaining store base and these stores operate at a much higher expense rate given the lack of productivity. Once cycled, these closures are expected to be net income neutral.

The annual cost savings resulting from these strategic decisions, primarily occupancy, payroll, home office support, corporate administration and other store-related expenses, are estimated at approximately $200 million. During the first half of 2017, the Company expects to record an estimated pre-tax charge of approximately $225 million, primarily lease termination obligation expenses, non-cash asset impairments and transition costs, in connection with this initiative.

The Company plans to release a full list of planned closures in mid-March pending notification of all affected personnel. Nearly all impacted stores are expected to close in the second quarter of 2017.

“I have a deep appreciation and respect for our associates who are on the front lines working tirelessly to serve our customers every day. Closing a store is never an easy decision, especially given the local impact on valued employees and our most loyal shoppers,” said Ellison. “While any actions that reduce or exclude our presence in communities across the country is always difficult, it is essential that JCPenney continues to evolve in order to achieve long-term growth and profitability and deliver on shareholder value.”

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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, gross margin, selling, general and administrative expenses, earnings and cash flows. 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 Companys 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 non-core 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 including EMV chip technology, 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 Companys 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 @jcpnews

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

Source: J. C. Penney Company, Inc.

Posted on by

JCPenney announces the appointment of Snehil Gambhir as VP, managing director at its global in-house center in Bangalore, India

PLANO, Texas, 2017-Jan-25 — /EPR Retail News/ — JCPenney, one of the United States’ largest apparel and home furnishings retailers, announced today (Jan. 24, 2017)  the appointment of Snehil Gambhir as vice president, managing director at the Company’s global in-house center (GIC) in Bangalore, India. Gambhir brings over 20 years of global business and technology experience to JCPenney.

“Snehil is a proven solutions driven leader with extensive experience in global business and technology,” said Therace Risch, EVP and chief information officer at JCPenney. “We’re confident that his leadership will empower our Bangalore team to continue delivering important business and technology capabilities for JCPenney.”

In his role, Gambhir leads all operations at the Company’s first-ever GIC, which opened in August of 2016. His responsibilities include supporting and expanding a variety of key business functions, including IT, digital, store operations, analytics, marketing, infrastructure and merchandise operations.

Gambhir brings an abundance of leadership and technology experience to JCPenney. He most recently worked as chief operating officer for Aviva Life Insurance India, where he was responsible for all strategic and operations leadership of Aviva’s Service Delivery functions. Prior to that, Gambhir spent ten years at GE in roles of increasing responsibility, including contracts and cost out leader for GE Oil & Gas; business leader for GE’s GENPACT Center of Excellence; and quality, operations and digitization leader for GE Corporate, Global Business Services.

Gambhir has a B.E. in electronics and telecommunication from Jabalpur Engineering College and an MBA from University of Illinois at Urbana-Champaign.

For information related to the Company’s opening of its GIC in 2016, please access the following news release: http://www.jcpnewsroom.com/news-releases/2016/0818_opens_first_ever_global_inhouse_center_in_bangalore.html

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

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

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

Source: J. C. Penney Company, Inc.

Posted on by

JCPenney and NIKE partner to create Nike brand shops in over 600 JCPenney stores

JCPenney and NIKE partner to create Nike brand shops in over 600 JCPenney stores

 

PLANO, Texas, 2017-Jan-19 — /EPR Retail News/ — From athletes to fashion enthusiasts, activewear continues to score big with shoppers, which is why JCPenney [NYSE: JCP] and NIKE, Inc. (NYSE: NKE) have teamed up to create inspiring Nike brand shop environments in over 600 JCPenney stores. The new Nike shops boast pumped up visual elements featuring world-class athletes and crisp signage to help shoppers find the best gear for basketball, training, running and more. The shops also feature an expanded assortment of apparel and accessories from one of the world’s leading activewear brands.

“Nike is immensely popular across all categories and with the rapid rise of activewear and athletic shoes, we want to have the best expression of Nike in any department store,” said John Tighe, chief merchant for JCPenney. “JCPenney is an activewear destination, and by partnering with a perception-shifting national brand like Nike, we can deliver both the performance and athleisure products that customers want. Shoppers browsing our new Nike environments will be both inspired and motivated to take their athletic wardrobe to the next level.”

Anchored by an impressive Nike swoosh sign suspended above the shop, JCPenney has dedicated 500 sq. ft. of space to the activewear giant in a prominent location within the men’s department. Motivating graphics of athletes adorn the shop walls and updated fixtures, combined with dedicated mannequins, present the merchandise in an inspiring light. The iconic Nike logo is emblazoned throughout the shop and popular activities, including basketball, training and running, are called out with new signage to help customers shop quickly and easily. The JCPenney and Nike teams worked closely together to test various visual elements at a JCPenney store in Portland, Ore., to create the inspiring environment for the men’s department, now available in 600 locations across the country. Similar visual elements are available in select stores for women and kids.

Nike has a strong reputation for athletic innovation, and its ability to infuse sportswear with performance benefits appeals to a wide audience. The Nike shops inside JCPenney boast stylish apparel and accessories for men who are passionate about their sport. Fitness enthusiasts will find everything they need to maximize their workouts including Dri-FIT base layer pants, mesh shorts, jogger pants, moisture wicking compression tees, performance socks and breathable hoodies. The versatile selection of apparel is perfect for a casual weekend outing or a high intensity workout. In addition to performance and athleisure apparel, shoppers will also find an array of accessories, including weighted jump ropes, water bottles, workout gloves, gym socks and sweat bands.

Sneakers With Sole
Nike athletic shoes for men are situated adjacent to the shop for an easy, seamless shopping experience with over 100 locations featuring enhanced visual elements consistent with the new men’s environment. With over 50 styles designed for running, training, basketball and more, JCPenney features a strong statement of the hottest Nike sneakers, including the Tanjun lifestyle shoe, to complement the versatile selection of performance and athleisure apparel. This spring, JCPenney will introduce even more technologies and streetwear styles with popular outsoles.

Nike Scores Big Online
To complement the availability of extended sizes in stores, JCPenney offers shoppers more colors and size ranges of Nike products for men, women and kids at jcp.com. For team enthusiasts, The Sports Fan Shop boasts Nike brand apparel and gear in the top college, NFL, MLB and soccer teams including a Dak Prescott Dallas Cowboys game jersey for $99.95, a University of Southern California 2017 Rose Bowl Championship locker room t-shirt for $34.95 and a Chicago Cubs 2016 World Series Champions hoodie for $74.95.

The Nike selection at JCPenney will be featured throughout JCPenney marketing, including weekly sales circulars, direct mail, email and social media. Nike complements a robust assortment of fitness and athleisure brands available at JCPenney, including the retailer’s private brand, Xersion®, and exclusive brand, MSX™ by Michael Strahan.

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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.

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

Source: J. C. Penney Company, Inc.

###