Home / Knowledge / News / Apparel/Garments / JCP's Long Range Plan to drive substantial sales gains
JCP's Long Range Plan to drive substantial sales gains
29
Sep '10
J. C. Penney Company, Inc. announced that it is expanding its presence in major markets which are currently underserved by the Company and offer great potential for expansion due to their demographic profiles. This initiative is a key component of JCPenney's Long Range Plan, which is expected to drive substantial sales gains over the next five years. It will begin with the opening, in 2011, of three new JCPenney stores in Daly City (San Francisco), Calif., Glenarden (Washington, D.C.), Md., and Dallas.

The Company also announced the transformation of the JCPenney in-store experience through its store renovation program. This program is designed to highlight JCPenney's most innovative new brands and concepts, including creating a more exciting shopping environment for customers. As part of the program, the Company has made significant in-store enhancements at more than 750 stores this year, including 76 major renovations. By 2014, the Company plans to complete major renovations at a total of more than 375 stores.

"Across America, there are markets that offer great potential for JCPenney due to their significant moderate income populations who value the style, quality and affordability that we offer and would seek out our private and exclusive brands. Due to our strong financial position, we will be able to intensify our presence in these markets in order to capitalize on this opportunity in the years to come," said Myron E. (Mike) Ullman, III, chairman and chief executive officer.

"This work, in combination with our ongoing store renovation program, will enable JCPenney to deliver on our goal of being an industry growth leader by maximizing sales productivity in our existing locations and expanding our customer base in key markets."

New Store Openings in 2011
In the spring of 2011, new JCPenney stores will open in Daly City (San Francisco), Calif. and Glenarden (Washington, D.C.), Md., and in the fall of 2011 a new store is planned to open in Dallas. These are all markets where JCPenney has an existing presence and strong track record of success. These three store locations mark the initial step in JCPenney's plans to open new stores through 2014 in support of a key objective of the Company's Long Range Plan -- to generate a total of $1 billion in sales growth through new store expansion over the next five years.

Transforming the In-Store Experience
By October, JCPenney will have made significant enhancements to the in-store experience at more than 750 store locations in 2010. The Company is investing a total of $160 million in these improvements as part of its $500 million of expected capital expenditure for the year.

As part of the 76 major renovations in 2010, each of these locations will now have a 1,500-square-foot Sephora inside JCPenney beauty boutique, bringing the total number of Sephora locations to 231 by year-end. Major store renovations are primarily in California, Florida, Illinois, Maryland, New York and Texas.


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search