|JCPenney Reports April Sales|
Sales during the month benefited from the shift of Easter into the April reporting period this year, partially offset by the loss of one selling day. The top performing merchandise divisions during the month were women’s and children’s apparel, reflecting a strong customer response to the Company’s spring apparel offerings. Fine jewelry experienced the weakest sales during the month. Geographically, the best performing region of the country was the southwest while the central region experienced the weakest results.
May Sales Outlook
Management’s guidance for the four-week period ending
First Quarter Earnings Outlook
Based on better-than-expected sales results in the April period,
operational efficiencies achieved through process improvements and a
consistent focus on expense control, management expects earnings for the
first quarter to be in a range of
First Quarter Earnings Conference Call
The Company will report its results for the first quarter prior to the
opening of the market on
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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