Signaling the launch of its accelerated growth strategy, J. C. Penney Company, Inc. (NYSE:JCP), one of the nation's largest department store retailers, will open 20 new stores nationwide on Oct. 6. The simultaneous store openings taking place that day in 13 states support a key element of the Company's Long Range Plan -- to make JCPenney an “easy and exciting place to shop” -- by providing customers with an enhanced shopping experience in additional convenient locations.
“There is growing demand for JCPenney stores in markets across the country. We are addressing this by launching the most aggressive store opening program in more than 25 years, which will allow us to offer our customers even more access to style and quality at smart prices,” said Myron E. (Mike) Ullman, III, JCPenney chairman and chief executive officer.
Growing Off-Mall:
Fueled by the success of its new off-mall format, continued improvement in operating results and strong free cash flow, JCPenney previously announced that it expects to open at least 50 stores per year from 2007 through 2009. Eighty percent to 90 percent of the new JCPenney stores, including 17 of the 20 opening Oct. 6, will adopt the off-mall format, although the Company continues to pursue opportunities to acquire mall stores in attractive locations. The Company currently has 25 stores open in the off-mall design.
The off-mall format, covering approximately 100,000 square feet on a single level, featureswider aisles, new lighting designs and concentrated customer service centers. The new store layout helps shoppers easily locate major brands such as The Original Arizona Jean Company, Chris Madden for JCPenney Home Collection, nicole by Nicole Miller, SouthPole, Worthington, Stafford, Bisou-Bisou, Oshkosh, Nike and more.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
