|JCPenney Reports August Sales in Line with Management Guidance|
As expected, sales during the month were favorably impacted by the
combination of a later start to the Back-to-School selling period and
the shift of several state tax-free shopping periods into this year’s
fiscal August. This benefit was partially offset by the shift of
Women’s apparel was the top performing merchandise division in August and continues to experience positive customer reaction to new brands and enhanced style. The children’s division also performed well during August with both boys and girls apparel experiencing favorable Back-to-School sales. Home was the weakest performing division during the month. The southeast and southwest regions were the best performing regions in August, while the northeast region had the softest sales performance during the month.
September Sales Outlook
Management’s guidance for the five-week period ending
CEO Mike Ullman Presentation at
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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