JCPenney Announces New Store Openings (JCP)

J. C. Penney Company, Inc. JCP announced today that it is expanding its presence in major markets which are currently underserved by the Company and offer great potential for expansion due to their demographic profiles. This initiative is a key component of JCPenney's Long Range Plan, which is expected to drive substantial sales gains over the next five years. It will begin with the opening, in 2011, of three new JCPenney stores in Daly City (San Francisco), Calif., Glenarden (Washington, D.C.), Md., and Dallas. The Company also announced the transformation of the JCPenney in-store experience through its store renovation program. This program is designed to highlight JCPenney's most innovative new brands and concepts, including creating a more exciting shopping environment for customers. As part of the program, the Company has made significant in-store enhancements at more than 750 stores this year, including 76 major renovations. By 2014, the Company plans to complete major renovations at a total of more than 375 stores.