JCPenney Launches ''Round-Up'' Program Benefiting the JCPenney Afterschool Fund
Customers Invited to Round-Up Their Purchases to the Next Whole Dollar 100 Percent of the Donations to Benefit Children in Need
PLANO, Texas--(BUSINESS WIRE)--
J. C. Penney Company, Inc. (NYSE:JCP) has launched the Afterschool Round-up program to benefit the JCPenney Afterschool Fund, inviting customers to join in the Company's mission to increase access to afterschool programs for children in need. Now, through Sept. 15, customers will have the opportunity to "round-up" their JCPenney purchases to the nearest whole dollar and donate the difference to the JCPenney Afterschool Fund. Donations will help the public charity provide children with access to life-enriching afterschool programs that keep them safe and foster their academic, physical and social development.
Studies show that 14.3 million children in the United States are unsupervised after school between the hours of 3 p.m. and 6 p.m. each day. Additionally, studies show that youth are at greater risk of involvement in crime, drug abuse and other destructive behaviors during these hours. To address this issue, JCPenney created the JCPenney Afterschool Fund in 2001, and has since given tens of thousands of children the opportunity to participate in essential afterschool programs that help them to reach their full potential in life.
"We realize that the afterschool issue is a cause close to the hearts and minds of our customers and Associates," said Myron E. (Mike) Ullman, III, chairman and CEO of JCPenney. "The launch of this new program now offers an easy way for our customers - more than half of America - to be part of the solution. By simply rounding up their purchases, 100 percent of their donation will go toward providing thousands of children with access to afterschool programs that will help them reach their full potential."
The biggest barrier for most families to getting children into an afterschool program is the cost. Afterschool programs cost an average of $1,800 a year per child, putting programs out of reach for millions of America's working families. Over the past six years, JCPenney and the JCPenney Afterschool Fund together have contributed more than $60 million to support the afterschool cause nationwide. This year, the JCPenney Afterschool Fund will work with its national afterschool program partners (Boys & Girls Clubs of America, YMCA of the USA, National 4-H Council and United Way of America) to provide grants directly to more than 20,000 children in all 50 states, Puerto Rico and the District of Columbia, who would otherwise be unable to participate due to financial hardship.
"With the support from the Afterschool Round-up program, the Fund will be able to broaden its reach and touch more lives than ever before," said Mike Theilmann, chairman of the JCPenney Afterschool Fund. "We believe afterschool programs are an investment in the future of our children, and we'll continue working toward the day when all children in this nation will benefit from the world of opportunities that await them after school."
JCPenney is one of America's leading retailers, operating 1,048 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, www.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.
About The JCPenney Afterschool Fund
The JCPenney Afterschool Fund is a charitable organization committed to providing children in need with access to life-enriching afterschool programs that foster their academic, physical and social development. The JCPenney Afterschool Fund also works to raise awareness of the benefits of afterschool programming, and is committed to ensuring that every child has access to the world of opportunities that awaits them after school.
Source: J. C. Penney Company, Inc.
Released August 15, 2007