"The Foundry Big & Tall Supply Co.(TM)" to be
Leading Men's Destination for Big & Tall Customer
PLANO, Texas, Nov 15, 2010 (BUSINESS WIRE) --
The Foundry Big & Tall Supply Co.(TM), part of the new Growth Brands
Division at J. C. Penney Company, Inc. (NYSE: JCP), today announced
plans to launch a new retail concept catering to the men's big & tall
customer. With plans to open 300 stores -- as well as an ecommerce
website -- over the next five years, The Foundry Big & Tall Supply Co.
will carry an extensive assortment of highly sought-after national men's
brands along with The Foundry Supply Co.(TM) private brand merchandise,
offering an upscale, one-stop-shop for the big & tall customer.
"With big & tall customers making up over 50 percent of the male
population and spending nearly $6 billion on apparel, footwear and
accessories, we saw an opportunity to serve the fashionable and
professional big & tall customer who is often frustrated by the lack of
sizes and fits, availability of brands and the overall lack of customer
service in their category," said Myron E. (Mike) Ullman, III, chairman
and chief executive officer. "Offering an upscale environment and
extensive assortments of apparel, footwear and furnishings created with
them in mind, The Foundry Big & Tall Supply Co. is positioned to address
all of the needs of the big & tall customer - one of the largest and
fastest growing segments in the market place today."
The Foundry Big & Tall Supply Co. plans to open 10 specialty stores in
May 2011, following the April 2011 launch of its ecommerce website and
aggressively expand nationwide to 150 stores by 2013, reaching a total
of 300 stores over the next five years. The Foundry Big & Tall Supply
Co. will provide a balance of quality, trend right merchandise with a
high level of customer service in a specialty store environment;
carrying sportswear, tailored clothing, athletic, basics, footwear and
accessories in big & tall.
The stand alone, specialty retail stores will be up to 6,000 sq. ft.,
and be staffed with dedicated associates committed to providing
exceptional customer service with their industry-leading knowledge and
custom fit solutions. Inspired by the look of a microbrewery, The
Foundry Big & Tall Supply Co. stores will feature an urban, industrial
design, in a hip, yet unpretentious environment that invites men to
shop, relax and enjoy themselves. Inside, customers will find concrete
and wood flooring, brick walls, steel and wood fixtures and modern
lighting, along with a lounge area.
Steve Lossing, a retail executive with over 20 years of menswear
experience, including 8 years with J.C. Penney, has been named President
of The Foundry and will be responsible for the overall retail
operations. The Foundry Big & Tall Supply Co. and other initiatives from
Growth Brands Division are separate from the Company's core JCPenney
brand and leverage its exceptional merchandising, marketing, product
development, sourcing, IT, planning and allocation, and consumer
research capabilities to create new retail businesses and drive sales
growth. The first two initiatives under the Growth Brands Division are
Gifting Grace(TM), a comprehensive online resource for gifts, and CLAD(TM), a
complete online modern menswear resource, were announced last week and
will launch in summer 2011.
About J. C. Penney Company, Inc.
J. C. Penney Company, Inc., traded on the New York Stock Exchange under
the ticker symbol JCP, is a Plano, Texas-based holding company with
$17.6 billion in sales. The Company has over 1,100 retail locations
throughout the United States and Puerto Rico under the JCPenney brand
name. Its Growth Brands Division, a division pursuing high potential
opportunities in the retail sector, includes both store and online
initiatives. With the largest product development & sourcing
organization in the retail industry, J. C. Penney Company, Inc.
continues to be the forerunner in retail merchandise innovation.
SOURCE: J. C. Penney Company, Inc.
JCPenney Corporate Communications:
April Dinwoodie or Kate Coultas, 972-431-3400