JCPenney announces leadership appointments

Company initiates personnel actions to streamline job functions and reduce expenses

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

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

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

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

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

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

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

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

Source: J. C. Penney Company, Inc.

JCPenney 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.

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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.

JCPenney showcases spring style in both new and beloved brands

Spring trends influence collection of shoes, handbags and fashion jewelry as part of center core revitalization

PLANO, Texas, 2015-3-5 — /EPR Retail News/ — With spring just around the corner, JCPenney is replacing cozy winter wear with a fresh arrangement of spring fashion, sandals and accessories that epitomize the season’s most coveted looks. The Company is showcasing spring style in both new and beloved brands, while revealing an updated assortment of shoes, handbags and accessories that will entice weather weary shoppers on the hunt for this season’s most wearable trends.

“This spring is about bold, colorful and compelling designs that inspire our customers. JCPenney merchant teams partner with our in-house design and trend teams to determine how these looks will come to life in our portfolio of private and exclusive brands,” said Siiri Dougherty, senior vice president of women’s apparel at JCPenney. “The result is an impressive display of women’s apparel, shoes, handbags and fashion jewelry that work together to create a cohesive collection for spring.”

One brand that will soon be making a pivotal style statement for women is a new private brand called Stylus™. Formerly known as jcp™, Stylus will continue basic essentials that customers love, but with a renewed emphasis on details, colors and patterns. Stylus, along with other brands found only at JCPenney, such as Liz Claiborne®, a.n.a®, Worthington®, Arizona®, St. John’s Bay® and Decree®, will feature an all-new spring set that’s inspired by the following style trends:

• Femme & Floral – Lace, drape detailing, illusion sheers and floral prints are infused with soft yellows, minty greens and rose-hued pinks to create a romantic feminine statement. Examples include the Liz Claiborne sleeveless belted floral dress,Bisou Bisou’s lace-sleeve tees and floral print soft pants.

• Sporty & Chic –Athleisure takes a more sophisticated turn this season with modern athletic wear that incorporates clean lines, sport- inspired knits, soft blazers and contrasting stripes. This popular look is reflected in Stylus sweaters, a.n.a jogger pants and Liz Claiborne Weekend, a new line that offers casual separates for the classic woman.

• Bold & Graphic –Daring uses of rich citrus hues and traditional black and white are classic examples of art influencing fashion. Prominent stripes and retro-inspired prints paired with classic silhouettes are essential to making this trend relevant.Worthington’s color block tee, black and white peplum top and matching cropped pants provide an updated rendition of this nod to artistic flare.

• Retro Boho –Characterized by the free-spirited Bohemian style, this trend offers fashion that is flowy, yet functional, with earthy tones such as indigo and bronze accented by tribal-inspired patterns.
Examples of this look include Arizona roll-cuff jean shorts, St. John’s Bay vertical lace skirt, and the Decree long-sleeve envelope-back peasant top.

These brands and trends are spotlighted on jcplookbook.com and in the JCPenney spring mailer that depicts this season’s must-have items and provides tips on how to mix and match various pieces with unique prints and colors to create a personal statement. The Spring Style Sale runs now through March 15.

Finishing the Look
JCPenney will be testing center core updates in select stores this spring to promote greater cross shopping between fashion jewelry, shoes and handbags. Fashion jewelry will boast a new accessories presentation organized by brand, color and trend. Merchandise will be displayed on modern white fixtures, complete with dedicated forms and stylized black lacquer mannequins to create a dazzling display of necklaces, bracelets, earrings and scarves.

“Every woman knows accessories make the outfit. To help our customers complete their overall look, we’ve selected a wide array of beautiful accent pieces, from architectural jewelry to graphic kimono scarves, that will complement her wardrobe,” said Pam Mortensen, senior vice president of fine jewelry and accessories. “We are excited to bring our jewelry and accessories to life in a bright, new in-store presentation, where we know she will be inspired and feel confident in creating a look that’s uniquely hers.”

In addition to an accessories revamp, handbags will also receive a similar update in test stores, with all-new fixtures and tables, graphic displays and a wider product selection that includes totes, crossbody and small leather bags. The handbags area delivers distinct brand presentations, giving Liz Claiborne greater prominence and space to showcase a spring line that reflects an extended color palette, along with enhanced quality and details that elevate the brand.

Women’s shoes have stepped up in style and function this season, while providing a robust assortment of fashion, comfort and athletic footwear options in all her favorite brands. St. John’s Bay and Liz Claiborne shoes are making a comeback this spring with more styles and the addition of performance features such as memory foam and stretch fabrics that are consistent with the sporty and chic trend.

JCPenney will be highlighting its spring accessories through a specialty mailer promoting a unique shoe and handbag event planned March 12-21. Each page showcases a selection of top statement pieces curated by the Company’s leading design teams.

“Our spring floor takes the guesswork out of shopping by closely aligning our shoes and handbags with this season’s apparel trends. Whether she is looking for metallic city sandals, a hobo bag in a trendy hue or a fresh neutral, we have the styles and colors she needs to finish the look.” said Jodie Johnson, senior vice president of footwear and handbags at JCPenney. “We’re taking a holistic approach to how our merchandise fits together to create a style statement that sets JCPenney apart from the competition.”

For b-roll and images related to spring merchandise, please visit jcpnewsroom.com/Spring2015.

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 furnishing retailers, is dedicated to fitting the diversity of America with unparalleled style, quality and value. Across approximately 1,060 stores and at jcpenney.com, customers will discover a broad assortment of national, private and exclusive brands to fit all shapes, sizes, colors and wallets. For more information, please visit jcpenney.com.

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Liz Claiborne belted floral dress

Liz Claiborne belted floral dress