|JCPenney Reports June Sales Results|
From a merchandise perspective, men’s Father’s Day merchandise categories were among the best performers during the June period. The fine jewelry division was also a better performer than in previous months after a successful Diamond Showcase promotional event. The children’s division experienced the weakest sales results for the month reflecting lower levels of clearance sales. Geographically, the best performing area of the country was the southwest region, while the southeast region had the weakest results.
July Sales and Updated Second Quarter Sales and Earnings Outlook
Based primarily on better-than-expected performance during the May and June periods, management is raising its guidance for second quarter earnings. In addition, management is confirming second quarter comparable store sales expectations at the favorable end of its original guidance range. The following updated guidance takes into consideration operating performance during the first two months of the Company’s fiscal second quarter and the Company’s sales guidance for the month of July.
Sales Conference Call Recording (
JCPenney is one of America's leading retailers, operating 1,101
department stores throughout
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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