J.C. Penney Company, Inc.
Industry: Retail (Department & Discount)

J. C. Penney Company, Inc. is a holding company that has one wholly owned direct subsidiary, J.C. Penney Corporation Inc. The Company is a major retailer, operating 1,049 J.C. Penney department stores in 49 states, Puerto Rico and Mexico. In addition, it operates 54 Renner department stores in Brazil. A major portion of J.C. Penney Company's business consists of providing merchandise and services to consumers through department stores, catalog departments and the Internet. The Company markets family apparel, jewelry, shoes, accessories and home furnishings. In addition, it operates a chain of 2,686 drugstores, primarily through the Eckerd name, located throughout the southwest, southeast, Sunbelt, and northeast regions of the United States.

Business Summary
J. C. Penney Company, Inc. (JCPenney) is a retailer, operating 1,017 JCPenney Department Stores throughout the United States and Puerto Rico, and 62 Renner Department Stores in Brazil. The Company sells family apparel, jewelry, shoes, accessories and home furnishings to customers through Department Stores, Catalog and the Internet. In addition, the Department Stores provide services, such as salon, optical, portrait photography and custom decorating, to customers. Department Stores and Catalog/Internet generally serve the same customers and have virtually the same mix of merchandise. Additionally, department stores accept returns from sales initiated in department stores, catalog or via the Internet. J. C. Penney Corporation, Inc. (JCP) is the wholly owned operating subsidiary of the Company.

Financial Summary
JCP, a holding company, provides merchandise and services to consumers through department stores, catalogs, and the Internet. For the 26 weeks ended 7/30/05, revenues rose 5% to $8.10B. Net income applic. to Common and from continuing ops. rose 69% to $293M. Revenues reflect strong department store sales across the country and in all merchandise divisions. Net income also reflects higher gross margins and S/G/A leverage from cost savings initiatives.