JCPenney 2008 Annual Report Download

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J. C. Penney Company, Inc. Annual Report 2008

Table of contents

  • Page 1
    J. C. Penney Company, Inc. Annual Report 2008

  • Page 2
    ... Table of Contents 4-5 6-8 Message to Our Stockholders Accelerate Style. Quality. Price. jcp.com JCP Rewards Sephora inside JCPenney: A beautiful relationship 9-17 Maintain American Living: The largest brand launch in Company history Opportunity leads to innovation, and newness keeps customers...

  • Page 3
    Maintain Moderate 2008: A year of unprecedented challenges to our customers. More than ever, our promise of great style, quality and affordable prices resonates in their everyday lives. JCPenney remains committed to our Long-Range Plan and has initiated comprehensive, short-term strategies to adjust...

  • Page 4
    ...and leading customers to shop across the store as well. We plan to have more than 150 locations by the end of 2009. To ensure we are most effectively communicating to our customers the newness and value we offer, we are executing updated marketing strategies that better leverage new media outlets to...

  • Page 5
    ... improvements in our store environment as we open more Sephora inside JCPenney locations in the center core of our stores, and plan for new merchandise fixturing to support apparel and home brand launches. Our Vision Remains Intact: To Be the Preferred Retail Choice for America's Families While the...

  • Page 6
    ... the year, we used innovative marketing tools to break through the messaging clutter and attract new customers. For the 2008 Back-to-School season, we showed teens how to "Get That Look" and even offered a fun, online game, "Dork Dodge," to engage young adults with the new JCPenney brand, Dorm...

  • Page 7
    ... added and improved. Updates include enhanced product images and information, more advanced search capabilities, improved access to merchandise availability at local stores through our "Know Before You Go" feature, the ability to view weekly sales circulars online, customer reviews, site-to-store...

  • Page 8
    ...customers who came to shop Sephora into new, loyal JCPenney customers. Sephora inside JCPenney nearly doubled its presence in 2008 by opening 44 new shops. With the addition of 14 new shops in March 2009, Sephora inside JCPenney is in 105 stores, with plans to open another 50 locations later in 2009...

  • Page 9
    ...American Living is a new tradition in American style for the entire family and the home. American Living captures the American spirit with a mix of sporty, iconic essentials and unique, eye-catching looks - all designed with superior quality and a fresh, free-spirited take on the every day. American...

  • Page 10
    ...own private brands for more than 50 years. Today, many of these brands have achieved consumer awareness on par with major national brands. Because of JCPenney's industry-leading product development initiatives - including brand management, trend, design, multi-country sourcing, logistics, technology...

  • Page 11
    ... unique flair for style. This allows us to offer customers runway fashions at an incredible value, while providing an opportunity for designers to expand and introduce their brand to the Middle American consumer. New exclusive brands debuting in 2009 include I "Heart" Ronson by Charlotte Ronson; JOE...

  • Page 12
    ... the most recognized and desired national brands Must-have national brands When our customers think of these brands, they think of JCPenney. As the No. 1 or No. 2 retail carrier of Levi's, Dockers, Southpole, Carter's, Haggar, Easy Spirit and Alfred Dunner, JCPenney is the destination for the must...

  • Page 13
    ...Discover our top private brands Generating nearly 45% of our annual revenue, JCPenney private brands are essential to building customer loyalty. With strong customer acceptance, 12 of our private brands have meaningful brand recognition well beyond our JCPenney stores, jcp.com and catalog. These 12...

  • Page 14
    ... having to ask for permission from a manager or supervisor. Sephora inside JCPenney, an opportunity to exceed customers' expectations. I Can Help trains all store Associates - not just our selling floor Associates - to assist in serving customers. Our Associates know that they play a vital role...

  • Page 15
    ... As Associates, we are the key to providing GREAT! customer service. Just remember these steps for GREAT! service to our Customers: GREET RESPECT ENGAGE Welcome every Customer - they could be shopping at a competitor instead. Be courteous and seek to understand the Customer. Our Customers' time...

  • Page 16
    ...Home Office Associate, and 11 courses per Store Associate. T U R N I N G J O B S I N T O C A R E E R S Community At JCPenney, the purpose of our community relations program is to inspire kids to be smart, strong and socially responsible. Our vision is to be the corporate leader in youth development...

  • Page 17
    ...both 2007 and 2008. JCPenney also received a third consecutive honor in March 2009, being the first retailer to receive the Sustained Excellence Award for Energy Management. This Summary Annual Report is printed using 30% recycled paper. Designs for our new Simply Green reusable shopping bags were...

  • Page 18
    ... the best use of our resources to further enhance cash flow, and ensure we are well-positioned to take market share when the environment improves. Capital expenditures in 2008 were $969 million, and for 2009, have been lowered to approximately $600 million, including a reduced store opening and...

  • Page 19
    ... New Stores in 2008 New Stores planned for 2009 America's Department Store 1,093 total number of JCPenney Stores Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Idaho Illinois Indiana 21 1 22 16 79 21 10 3 59 30 9 42 30 Iowa Kansas Kentucky Louisiana Maine...

  • Page 20
    Board of Directors (numbers relate to Board Committee assignments described below) Myron E. (Mike) Ullman, III Chairman of the Board and Chief Executive Officer Maxine K. Clark 2, 3 Founder, Chairman and Chief Executive Officer, Build-A-Bear Workshop, Inc. Ken C. Hicks President and Chief ...

  • Page 21
    ... operations ($ in millions) Capital expenditures ($ in millions) Dividends declared per common share Number of JCPenney stores Gross selling space (square feet in millions) Common Stock Holdings The following table shows the approximate ownership percentage of the Company's common stock by major...

  • Page 22
    ... Earnings Release Dates Quarter 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Release Date May 15, 2009 August 14, 2009 November 13, 2009 February 19, 2010 Annual Meeting Friday, May 15, 2009, at 10:30 a.m. CDT JCPenney Home Office 6501 Legacy Drive Plano, TX 75024 Fiscal 2009 Sales Release Dates...

  • Page 23
    10-K Report Accelerate Maintain Moderate 30% Cert no. BV-COC-070601

  • Page 24
    ... 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 jcp.com and jcpenney.net