American Living receives good initial customer response

07 Mar '08

2 min read

J. C. Penney Company Inc comparable store sales decreased 6.7 percent for the four weeks ended March 1, 2008, compared with guidance for a low-single digit decrease. In last year's February period, comparable store sales increased 1.5 percent. Total sales in February decreased 4.4 percent.

For the month, women's and children's apparel and family footwear were the best performing merchandise divisions. American Living, JCPenney's updated classic traditional lifestyle brand, which was launched in approximately 600 stores, jcp.com and catalogs on Feb. 24th, has enjoyed a good initial customer response and Sephora Inside JCPenney, now in 64 stores, continues to generate very strong results. Geographically, the best performance was in the northwest region of the country. Home categories and the southeast region continue to experience the softest results.

March Sales Outlook:
Management's guidance for the five-week period ending April 5, 2008, is for a low-single digit decrease in comparable store sales. This is compared to an 11.0 percent increase in last year's period. Total sales for the March period are expected to be about flat, and will benefit from the opening of 10 new and relocated stores at the beginning of the March period.

2008 JCPenney Analyst Meeting:
J. C. Penney Company, Inc. will host its 2008 Analyst Meeting on April 15 and 16, 2008, at the Mandarin Oriental Hotel in New York City.

The meeting will begin with a reception and dinner on the evening of April 15th, from 6:30 p.m. until 9:00 p.m., including a presentation by Myron E. (Mike) Ullman, III, JCPenney's Chairman and Chief Executive Officer, on the Company's Long Range Plan strategies, followed by Q&A. On April 16th, JCPenney's Senior Management will present the Company's key strategies and initiatives for 2008 as well as provide further detail about Long Range Plan execution and financial targets.

Presentations will begin at 8:00 a.m. and will conclude prior to noon, followed by a store tour at JCPenney's Garden State Plaza store in Paramus, NJ, which is home to one of the Company's American Living concept shops as well as a Sephora Inside JCPenney. For more information about the Analyst Meeting, or to register online, please visit the Company's investor relations website.

J. C. Penney Company Inc

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