Annual report pursuant to Section 13 and 15(d)

Retirement Benefit Plans (Asset Allocation) (Details)

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Retirement Benefit Plans (Asset Allocation) (Details)
12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Feb. 01, 2014
Feb. 02, 2013
Feb. 01, 2014
Equity securities total [Member]
Feb. 02, 2013
Equity securities total [Member]
Feb. 01, 2014
Fixed income total [Member]
Feb. 02, 2013
Fixed income total [Member]
Feb. 01, 2014
Real estate, cash and other [Member]
Feb. 02, 2013
Real estate, cash and other [Member]
Feb. 02, 2013
From Equities to Fixed Income [Member]
Jan. 28, 2012
From Equities to Fixed Income [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                    
Target allocation minimum     40.00%   35.00%   0.00%      
Target allocation maximum     60.00%   50.00%   10.00%      
Actual plan asset allocations 100.00% 100.00% 44.00% 48.00% 42.00% 43.00% 14.00% 9.00%    
Shift in target asset allocation percentage                 5.00% 15.00%
Defined benefit plan, investment policies and strategies narrative description The Primary Pension Plan’s investment strategy is designed to provide a rate of return that, over the long term, increases the ratio of plan assets to liabilities by maximizing investment return on assets, at an appropriate level of volatility risk. The plan’s asset portfolio is actively managed and invested in equity securities, which have historically provided higher returns than debt portfolios, balanced with fixed income (i.e., debt securities) and other asset classes to maintain an efficient risk/return diversification profile. In 2011 and 2012, we shifted 15% and 5%, respectively, of the plan’s target allocation from equities into fixed income. In 2013, we added an allocation to low volatility hedge fund strategies through a fund of funds approach. These shifts in allocation are additional steps towards lowering the plan’s volatility risk and matching the plan’s investment strategy with a maturing liability profile. The risk of loss in the plan’s equity portfolio is mitigated by investing in a broad range of equity types. Equity diversification includes large-capitalization and small-capitalization companies, growth-oriented and value-oriented investments and U.S. and non-U.S. securities. Investment types, including high-yield versus investment-grade debt securities, illiquid assets such as real estate, the use of derivatives and Company securities are set forth in written guidelines established for each investment manager and monitored by the plan’s management team. In 2011, the plan exited all of the remaining Company’s stock associated with the 2009 voluntary contribution of JCPenney common stock to the plan. ERISA rules allow plans to invest up to 10% of a plan’s assets in their company’s stock. The plan’s asset allocation policy is designed to meet the plan’s future pension benefit obligations. Under the policy, asset classes are periodically reviewed and rebalanced as necessary, to ensure that the mix continues to be appropriate relative to established targets and ranges.                  
Defined benefit plan, risk management practices We have an internal Benefit Plans Investment Committee (BPIC), which consists of senior executives who have established a review process of asset allocation and investment strategies and oversee risk management practices associated with the management of the plan’s assets. Key risk management practices include having an established and broad decision-making framework in place, focused on long-term plan objectives. This framework consists of the BPIC and various third parties, including investment managers, an investment consultant, an actuary and a trustee/custodian. The funded status of the plan is monitored on a continuous basis, including quarterly reviews with updated market and liability information. Actual asset allocations are monitored monthly and rebalancing actions are executed at least quarterly, if needed. To manage the risk associated with an actively managed portfolio, the plan’s management team reviews each manager’s portfolio on a quarterly basis and has written manager guidelines in place, which are adjusted as necessary to ensure appropriate diversification levels. Also, annual audits of the investment managers are conducted by independent auditors. Finally, to minimize operational risk, we utilize a master custodian for all plan assets, and each investment manager reconciles its account with the custodian at least quarterly.