|JCPenney Reports July Sales|
Women’s apparel and women’s accessories were the top performing merchandise divisions in July. Children’s apparel was the weakest performer and was impacted by lower levels of clearance merchandise when compared to the same period last year. The southwest region was the best performing region in July, while the southeast region had the softest sales performance during the month.
During the July period, the Company launched “Schooled in Style: Smart Looks for Less,” an innovative, integrated marketing campaign for the 2009 Back-to-School Season. The campaign showcases recently launched brands RS By Sheckler, Rusty, and Third Rail a Zoo York Production and private brand Decree for young men, along with JCPenney’s other desired teen brands like Levi’s and Decree for juniors. The Company’s distinctive assortment of teen brands make it clear that even as JCPenney steps up its style, parents and teens can continue to depend on JCPenney for great quality and prices.
The Company opened five new stores at the end of July, including the
opening of its first-ever department store in
August Sales Outlook and Updated Second Quarter Earnings Guidance
Management’s guidance for the four-week period ending
Based on better than expected sales in July and continued improvement in
gross margin and operating expenses, management now expects to report a
second quarter loss of approximately
Second Quarter Earnings Release
JCPenney will release its Second Quarter financial results before the
market opens on
Sales Conference Call Recording (
JCPenney is one of America’s leading retailers, operating 1,106
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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