Press release from PR Newswire
J. C. Penney Company, Inc. Reports May Sales Results
Thursday, June 02, 2011
J. C. Penney Company, Inc. Reports May Sales Results08:30 EDT Thursday, June 02, 2011PLANO, Texas, June 2, 2011 /PRNewswire/ -- J. C. Penney Company, Inc. (NYSE: JCP) reported today that its comparable store sales for the four-week period ended May 28, 2011, decreased 1.0 percent. (Logo: http://photos.prnewswire.com/prnh/20110222/DA51975LOGO)Overall, children's, women's apparel and accessories reported the strongest results in May. The Company also noted particularly robust sales trends in its 254 Sephora inside jcpenney beauty boutiques this month. This, coupled with the ongoing strength in the sales of its women's accessories and modern shoes and handbags, reflects the success of the Company's strategy to enhance the center core of its stores. Geographically, the southwest region was the top performing region of the country. Throughout the month, sales and traffic were impacted somewhat by unseasonable weather trends, as well as the shift or elimination of certain promotional events when compared to the same period last year. Total company sales decreased 3.3 percent for the month. Preliminary May Sales Summary($ in millions)Total Company Sales% Increase/(Decrease)for period endedTotal SalesComp StoresMay 28,May 29,2011201020112010201120104 Weeks$ 1,187$ 1,228(3.3)(2.1)(1.0)(1.8)17 Weeks$ 5,130$ 5,157(0.5)0.42.70.6Today's Sales Conference Call Recording (8:30 a.m. ET) -- (877) 793-7778For further information, contact:Investor RelationsKristin Hays and Angelika Torres; (972) 431-5500 firstname.lastname@example.orgMedia RelationsDarcie Brossart and Rebecca Winter; (972) 431-3400 email@example.com Kate Coultas; (972) firstname.lastname@example.orgCorporate Websitewww.jcpenney.netAbout J. C. Penney Company, Inc.J. C. Penney Company, Inc., one of America's leading retailers, operates over 1,100 jcpenney department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com. Serving more than half of America's families each year, the jcpenney brand offers a wide array of private, exclusive and national brands which reflect the Company's vision to be America's shopping destination for discovering great styles at compelling prices. Traded as "JCP" on the New York Stock Exchange, the $17.8 billion retailer is transforming its organization to support its Long Range Plan strategies to build a sustainable, profitable enterprise that serves its customers, engages its associates and rewards its shareholders. For more information visit, www.jcpenney.net. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which reflect the Company's current views of future events and financial performance, involve known and unknown risks and uncertainties that may cause the Company's actual results to be materially different from planned or expected results. Those risks and uncertainties include, but are not limited to, general economic conditions, including inflation, recession, unemployment levels, consumer spending patterns, credit availability and debt levels, changes in store traffic trends, the cost of goods, trade restrictions, changes in tariff, freight and shipping rates, changes in the cost of fuel and other energy and transportation costs, increases in wage and benefit costs, competition and retail industry consolidations, interest rate fluctuations, dollar and other currency valuations, the impact of weather conditions, risks associated with war, an act of terrorism or pandemic, and a systems failure and/or security breach that results in the theft, transfer or unauthorized disclosure of customer, employee or Company information. Please refer to the Company's most recent Form 10-K and subsequent filings for a further discussion of risks and uncertainties. Investors should take such risks into account when making investment decisions. We do not undertake to update these forward-looking statements as of any future date.SOURCE J. C. Penney Company, Inc.