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JCPenney Reports November Sales

PLANO, Texas--(BUSINESS WIRE)--Dec. 3, 2009-- J. C. Penney Company, Inc. (NYSE:JCP) reported that comparable store sales for the four-week period ended Nov. 28, 2009, decreased 5.9 percent, in-line with the Company’s guidance for sales to decrease 4 to 7 percent. In last year’s November period, comparable store sales decreased 11.9 percent. Total Company sales in November decreased 5.2 percent.

Strong sales for the Black Friday weekend offset slightly weaker sales beginning mid-month and leading up to Thanksgiving. Customers responded well to JCPenney’s gift assortment, which offers stylish and quality gifts at affordable prices that make sense for the budgets of America’s families. In addition, holiday Internet sales through achieved a high-teen increase for the post-Thanksgiving period, including Cyber-Monday. However, Internet sales that occurred after Thanksgiving will be recorded upon shipment of the merchandise and will be reflected in the Company’s December sales results.

For the November period, women’s apparel, accessories and shoes were the top performing merchandise divisions, while children’s experienced the weakest sales. The southwest region was the best performing region in November, and the southeast region had the softest sales during the month.


Preliminary November Sales Summary

($ in millions)
Total Company Sales % Increase/(Decrease)
for period ended Total Sales Comp Stores
Nov. 28, Nov. 29,  
2009 2008 2009 2008 2009 2008

4 Weeks

$ 1,721 $ 1,815 (5.2 ) (11.5 ) (5.9 ) (11.9 )

43 Weeks

$ 13,727 $ 14,541 (5.6 ) (6.3 ) (7.0 ) (7.9 )

December Sales Outlook

Management’s guidance for the five-week period ending Jan. 2, 2010, is for a 3 to 6 percent decrease in comparable store sales, compared to an 8.1 percent decrease in last year’s December period.

Sales Conference Call Recording (8:30 a.m. ET) -- (877) 793-7778

About JCPenney

JCPenney is one of America's leading retailers, operating 1,109 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet,, and the nation's largest general merchandise catalog business. Through these integrated channels, JCPenney offers a wide array of national, private and exclusive brands which reflect the Company's commitment to providing customers with style and quality at a smart price. Traded as "JCP" on the New York Stock Exchange, the Company posted revenue of $18.5 billion in 2008 and is executing its strategic plan to be the growth leader in the retail industry. Key to this strategy is JCPenney's "Every Day Matters" brand positioning, intended to generate deeper, more emotionally driven relationships with customers by fully engaging the Company's approximately 150,000 Associates to offer encouragement, provide ideas and inspire customers every time they shop with JCPenney.

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.

Source: J. C. Penney Company, Inc.

J. C. Penney Company, Inc.
Investor Relations
Phil Sanchez, 972-431-5575
Kristin Hays, 972-431-1261
Media Relations
Darcie Brossart, 972-431-3400
Corporate Website

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