Press release from PR Newswire
J. C. Penney Company, Inc. Reports August Sales Results
Thursday, September 01, 2011
J. C. Penney Company, Inc. Reports August Sales Results08:30 EDT Thursday, September 01, 2011PLANO, Texas, Sept. 1, 2011 /PRNewswire/ -- J. C. Penney Company, Inc. (NYSE: JCP) reported today that its comparable store sales for the four-week period ended Aug. 27, 2011, decreased 1.9 percent compared to a 2.3 percent increase in the same period last year. As expected, the Back-to-School selling season started later again this year, with sales trends improving throughout the month. However, the Company's sales during the last week of August were negatively impacted by the significant disruption in the northeast and southeast regions of the country caused by Hurricane Irene. Total Company sales decreased 4.5 percent for the month.(Logo: http://photos.prnewswire.com/prnh/20110222/DA51975LOGO)Overall, men's apparel and women's accessories were the top performing merchandise divisions this month, while the southwest and southeast were the best performing geographic regions in August. The Company also announced the expansion of its exclusive attractions, Sephora inside jcpenney and MNG by Mango®, bringing the total number of locations to 297 and 500, respectively.Preliminary August Sales Summary($ in millions)Total Company Sales% Increase/(Decrease)for period endedTotal SalesComp Stores Aug. 27,Aug. 28,2011201020112010 201120104 Weeks $ 1,374$ 1,439(4.5) 0.8(1.9) 2.330 Weeks $ 9,223$ 9,306(0.9) 0.62.0 1.4Chairman & CEO Mike Ullman to Present at the Goldman Sachs Global Retailing ConferenceJ. C. Penney Company's Chairman and CEO, Mike Ullman, will be presenting at 9:00 a.m. ET on Wednesday, Sept. 7, at the Goldman Sachs 18th Annual Global Retailing Conference in New York City. The live webcast of Mr. Ullman's presentation at the Conference may be accessed via jcpenney's Investor Relations page at www.jcpenney.net. Replays of the webcast will be available for up to 30 days after the event. Today's Sales Conference Call Recording (8:30 a.m. ET) -- (877) 793-7778 For 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 Corporate 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.