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J. C. Penney Company, Inc. Reports July Sales Results

PLANO, Texas, Aug. 4, 2011 /PRNewswire via COMTEX/ --

J. C. Penney Company, Inc. (NYSE:JCP) reported today that its comparable store sales for the four-week period ended July 30, 2011, increased 3.3 percent over the same period last year. Reflecting the Company's continued focus on its growth initiatives and center core strategies, women's apparel and accessories, and fine jewelry were the best performing merchandise divisions in July. Specifically, Liz Claiborne®, Modern Bride® and Sephora inside jcpenney were key drivers of sales and traffic throughout the month. Additionally, the Company noted particular strength in the sales of "wear now" summer apparel and fashion accessories.

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

All regions of the country delivered positive results for the month, with the southwest region reporting the best results in July. Overall, total company sales increased 1.0 percent over last year.


Preliminary July Sales Summary

($ in millions)



Total Company Sales


% Increase/(Decrease)


for period ended


Total Sales


Comp Stores


Jul. 30,


Jul. 31,










2011

2010

2011


2010


2011


2010













4 Weeks

$ 1,173


$ 1,161


1.0


(2.8)


3.3


(0.6)













13 Weeks

$ 3,906


$ 3,938


(0.8)


(0.1)


1.5


0.9













26 Weeks

$ 7,849


$ 7,867


(0.2)


0.5


2.7


1.3














Second Quarter Earnings Release

The Company will report its 2011 second quarter financial results before the market opens on Friday, Aug. 12, 2011. Management will host a live conference call and real-time webcast beginning at 9:30 a.m. ET to discuss the Company's results, as well as provide updated expectations for the second half of 2011.

To access the conference call, please dial (877) 407-0778, or (201) 689-8565 for international callers, and reference the J.C. Penney Company, Inc., Second Quarter Earnings Conference Call. Access to the 2011 second quarter conference call is open to the press and general public in a listen only mode. The telephone playback will be available for two days beginning approximately two hours after the conclusion of the call by dialing (877) 660-6853, account code 286, and conference ID number 376851. The live webcast may be accessed via the Company's Investor Relations page at jcpenney.net, or on streetevents.com (for subscribers) or investorcalendar.com. Replays of the webcast will be available for up to 90 days after the event.

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

For further information, contact:

Investor Relations
Kristin Hays and Angelika Torres; (972) 431-5500
jcpinvestorrelations@jcpenney.com

Media Relations
Darcie Brossart and Rebecca Winter; (972) 431-3400
jcpcorpcomm@jcpenney.com

Corporate Website
www.jcpenney.net

About J. C. Penney Company, Inc.

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

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

SOURCE J. C. Penney Company, Inc.