JCPenney Celebrates 105th Year Anniversary by Giving Back to Its Communities
Company Marks Occasion with $3.5 Million Charitable Contribution and Nationwide Community Outreach
PLANO, Texas--(BUSINESS WIRE)--
J. C. Penney Company, Inc. (NYSE:JCP) will mark 105 years in the retail industry on April 12, 2007, offering style and quality to its customers at smart prices for more than a century. To honor its legacy, JCPenney is celebrating its anniversary and showing that "Every Day Matters" by giving back to communities across the nation through a $3.5 million charitable contribution to support America's underserved children and organized volunteer events for its Associates.
"Founded on The Golden Rule, JCPenney has a long history of giving back to the communities in which we live and do business. What better way to celebrate our anniversary than through community involvement," said Myron E. (Mike) Ullman, III, chairman and chief executive officer of JCPenney. "Community involvement strengthens our emotional connection with customers and further establishes us as a committed community partner. Our anniversary celebration provides yet another opportunity to engage our Associates and show our communities that what matters to them, matters to us."
$3.5 Million Contribution:
JCPenney will make a $2.5 million contribution this year to the JCPenney Afterschool Fund, a non-profit organization which provides disadvantaged youth throughout the country with access to high-quality, nurturing afterschool programs that produce healthier lifestyles, improved social skills and enhanced academic performance. Additionally, the Company will contribute $1 million in JCPenney gift cards to be given to each child who receives an afterschool access grant to assist with the purchase of school clothing and supplies. This school year, more than 15,000 children across the nation are participating in safe, enriching afterschool programs thanks to the JCPenney Afterschool Fund and its contributions.
JCPenney's 155,000 Associates are invited to participate in the Company's 105th anniversary celebration, and give back to the communities that have supported JCPenney for so many years, by volunteering in their local communities throughout the month of April. JCPenney Afterschool Fund's national service organizations (Boys & Girls Clubs of America, YMCA of the USA, National 4-H and United Way of America) are working with JCPenney Associates at local stores and business units throughout the country to organize local volunteer opportunities.
JCPenney is one of America's leading retailers, operating 1,033 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, 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 $19.9 billion in 2006 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 155,000 associates to offer encouragement, provide ideas and inspire customers every time they shop with JCPenney.
Source: J. C. Penney Company, Inc.
Released April 5, 2007