Company Profile For J. C. Penney Company, Inc.

J. C. Penney Company, Inc. (JCPenney) is a holding company whose principal operating subsidiary is J. C. Penney Corporation, Inc. (JCP). The Company is retailer, operating 1,093 JCPenney department stores in 49 states and Puerto Rico as of January 31, 2009. The Company’s business consists of selling merchandise and services to consumers through its department stores and Direct (Internet/catalog) channels. Department stores and Direct serve the same type of customers and provide the same mix of merchandise, and department stores accept returns from sales made in stores, via the Internet and through catalogs. The Company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney and home furnishings. In addition, the department stores provide its customers with services, such as styling salon, optical, portrait photography and custom decorating.

BRIEF: For the thirty-nine weeks ended 31 October 2009, J.C. Penney Company, Inc.'s revenues decreased 6% to $12.01B. Net income from continuing operations decreased 86% to $51M. Revenues reflect a decrease in domestic sales. Net income also reflects an increase in depreciation & amortization expenses, higher pre-opening expenses, a decrease in real estate & other income and the presence of qualified pension plan expense vs. an income.