JCPenney 2006 Annual Report Download

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J. C. Penney Company, Inc. l Annual Report 2006

Table of contents

  • Page 1
    J. C. Penney Company, Inc. l Annual Report 2006

  • Page 2
    TODAY'S THE DAY TO MAKE FRIENDS INSTEAD OF CUSTOMERS, TO DEVELOP AN EMOTIONAL CONNECTION THAT IS STRONG AND ENDURING, AND INSPIRE THEM WITH OUR MERCHANDISE AND SERVICES. TODAY'S THE DAY TO ENGAGE AND RETAIN ASSOCIATES BY BECOMING THE PREFERRED CHOICE FOR A RETAIL CAREER. TODAY'S THE DAY TO DELIVER ...

  • Page 3
    ... brand being created exclusively for JCPenney by Polo Ralph Lauren's Global Brand Concepts. This will be the largest launch in our Company's history, available throughout our merchandise assortment, and will serve to further set us apart in the retail marketplace. Accelerated New Store Openings...

  • Page 4
    ... and off-mall presence puts us in a strong competitive position, which is enhanced by having one of the most popular general merchandise Web sites on the Internet. In short, we are making it very easy for our customers to shop with us however and whenever they want. In 2006, jcp.com's sales grew 24...

  • Page 5
    ....1% 2002 2003 2004 2005 2006 2002 2003 2004 2005 2006 2002 2003 2004 2005 2006 Diluted Earnings Per Share - Continuing Operations Fiscal Year-End Stock Price Return on Beginning Stockholders' Equity- Continuing Operations page five l J. C. Penney Company, Inc. l Annual Report 2006

  • Page 6
    TA B L E O F C O N T E N T S 03 MESSAGE TO OUR STOCKHOLDERS 05 PERFORM 07 CONNECT 08 GROW 12 INSPIRE 16 BUILD 18 CARE 20 FINANCIAL HIGHLIGHTS 21 STOCKHOLDER INFORMATION 22 BOARD AND EXECUTIVE BOARD page six l J. C. Penney Company, Inc. l Annual Report 2006

  • Page 7
    ... COMMUNITIES THAT WE CARE. TODAY'S THE DAY TO WELCOME OUR CUSTOMERS...OUR ASSOCIATES...OUR STOCKHOLDERS TO JCPENNEY. IN RETAIL, AS IN LIFE, Every Day Matters ™ Shown: St. John's Bay® for her, The Original Arizona Jean Company® for kids. page seven l J. C. Penney Company, Inc. l Annual Report...

  • Page 8
    ... a print-dominated shopping channel. jcp.com continues to lead the industry with approximately $1.3 billion in 2006 sales. WHAT'S IN STORE JCPenney's new off-mall store format is generating increased customer traffic and higher sales per square foot. In 2007, the Company plans to open 50 new stores...

  • Page 9
    28 NEW STORES OPENED IN 2006 50 NEW STORES PLANNED TO OPEN IN 2007 250 NEW STORES PLANNED OVER THE NEXT 5 YEARS New Stores in 2006 New Stores planned for 2007 2006 TOTAL NUMBER OF JCPENNEY STORES Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Idaho ...

  • Page 10
    ... PRICES. EXCEPTIONAL STYLES. EXCLUSIVELY OURS. a.n.a JCPenney's new modern casual brand exceeded $300 million in sales during its first year. This private brand for women also exemplifies the Company's improved cycle time reduction: designed, sourced, and offered to customers in 100 days. east 5th...

  • Page 11
    ...PRIVATE BRAND LAUNCH IN COMPANY HISTORY Ambrielle â„¢ a sensual indulgence for every body Ambrielle debuted in spring 2007 as the centerpiece of JCPenney's redesigned lingerie department. Created for the modern woman, Ambrielle blends sensual fashion with outstanding comfort and support - making...

  • Page 12
    ..., AND EXCLUSIVE BRANDS THAT MAKE JCPENNEY THE BEST SHOPPING CHOICE FOR EVERY CUSTOMER'S LIFESTYLE: CONSERVATIVE,TRADITIONAL, MODERN, OR TRENDY. DESTINATION NATIONAL BRANDS HEADQUARTERS FOR THE NATION'S MOST RECOGNIZED AND DESIRED BRANDS page twelve l J. C. Penney Company, Inc. l Annual Report 2006

  • Page 13
    ...PRIVATE BRANDS AND EXCLUSIVE DESIGNER BRANDS OUTSTANDING MERCHANDISE THAT DIFFERENTIATES US FROM OUR COMPETITION AND REPRESENTS APPROXIMATELY 50% OF OUR BUSINESS page thirteen l J. C. Penney Company, Inc. l Annual Report 2006 d N- n an TIO atio z C i l U a tu y to RED cep nne n E e o P M c TI s JC...

  • Page 14
    ... Music Awards to our new brand positioning - "Every Day Matters," JCPenney's marketing continues to lead the industry with innovative and compelling strategies. "THE JCPENNEY EXPERIENCE" Open for three weeks, the high-concept virtual store was centered in the heart of Manhattan at One Times Square...

  • Page 15
    ... CUSTOMER NEEDS THROUGH INNOVATIVE OPTIONS NATIONWIDE GIFT REGISTRY Providing resources to celebrate the key moments in life - weddings, births, housewarmings, and more - helps to build enduring relationships with customers. Our nationwide Gift Registry makes gifting for any special occasion...

  • Page 16
    ... BECOMING THE PREFERRED CHOICE FOR A RETAIL CAREER. BUILD OUR WINNING TOGETHER PRINCIPLES Our principles focus on making JCPenney a great place to work and create an environment that encourages career development and personal growth. page sixteen l J. C. Penney Company, Inc. l Annual Report 2006

  • Page 17
    ... of our top priorities. We offer clear career paths and opportunities to support personal growth. Extensive training programs and tools like career discussions and Individual Training led by Executive Board Development Plans further foster a culture of development at JCPenney. BUILDING A WORKFORCE...

  • Page 18
    ... afterschool programs, but also raising national awareness of this critical issue. In 2006, the JCPenney Afterschool Fund contributed over $7 million in grants to programs benefiting more than 15,000 children throughout the nation. page eighteen l J. C. Penney Company, Inc. l Annual Report 2006

  • Page 19
    ... 2006, Associates volunteered over 225,000 hours and their charitable organizations received over $180,000. page nineteen l J. C. Penney Company, Inc. l Annual Report 2006 Go to www.jcpenney.net for more information about the Company's community relations and corporate social responsibility efforts...

  • Page 20
    ... were open for a full fiscal year as of each year end. The 2006 and 2003 calculations exclude sales of the 53rd week. (5) In 2006, costs associated with the Company's store merchandise distribution centers were reclassified from selling, general and administrative expenses into cost of goods sold...

  • Page 21
    ... 15, 2007 February 21, 2008 Annual Reports on Form 10-K Quarterly Reports on Form 10-Q Current Reports on Form 8-K CONTACT INFORMATION J. C. Penney Company, Inc. 6501 Legacy Drive Plano, TX 75024 972-431-1000 Shopping www.jcp.com Company information www.jcpenney.net QUARTERLY EARNINGS CONFERENCE...

  • Page 22
    ... Chief Information Officer Bernard D. Feiwus Senior Vice President, Chief Operating Officer of JCP Direct 1. Member of the Audit Committee. This committee: â- selects and retains the independent auditors for the annual audit of JCPenney's consolidated financial statements â- approves audit fees...

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    ... We care about and are involved in our communities we do this for our...customers We build lasting relationships by offering superior service and value shareholders We aspire to superior financial performance J. C. Penney Company, Inc. 6501 Legacy Drive Plano, TX 75024 jcpenney.net or jcp.com