|JCPenney Reports February Sales Results|
Women’s apparel continued to perform well with customers showing enthusiasm for the Company’s exclusive designer apparel and spring merchandise, all available at affordable prices. Overall, home and family shoes were the best performing divisions in February, with the home division benefiting from the shift of the Company’s home sale event into the February reporting period. Fine jewelry experienced the weakest sales results. The Company noted that the sales mix in the period included a lower level of clearance merchandise than last year.
Geographically, the best performing area of the country was the central region, while the southeast region had the weakest results.
Additionally, the Company will celebrate the grand opening of nine new
off-mall stores across the country this weekend, including one
relocation. Simultaneously, the Company will also mark the opening of
its 100th Sephora location as each of the nine new stores
will include a Sephora inside
March Sales Guidance
For the five-week period ending
2009 Analyst Meeting
As previously announced,
Sales Conference Call Recording (
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, paper and postal 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, 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.
J. C. Penney Company, Inc.
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