JCPenney 2010 Annual Report Download

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NEW LOOK. NEW DAY. WHO KNEW!
J. C. PENNEY COMPANY, INC. SUMMARY ANNUAL REPORT 2010

Table of contents

  • Page 1
    new look. new day. who knew! J. C. Penney ComPany, InC. Summary annual rePort 2010

  • Page 2
    ... Message to Our Stociholders 6-7 Exclusive Partnershi9s 8-9 Brand New Style 10-11 Brand New Looi 12-13 Brand New Day 14-15 Thumbs U9, jc9enney 16-17 Brand New Rewards 18-19 Winning Together 20-21 Care. Share. Give. 22-23 Brand New Growth 24-25 Financial Highlights, Board of Directors and Executive...

  • Page 3
    NEW DAY. WHO KNEW! jcpenney is transforming with an infusion of great stYLE, a dynamic CUstomEr EXPEriEnCE, HigHLY EngagED assoCiatEs and a laser-like focus on sUstainaBLE, ProfitaBLE groWtH. Discover the new jcpenney. nEW LooK. nEW DaY. WHo KnEW!â„¢

  • Page 4
    ... department store to a retail industry leader. To bring this vision to life, in April 2010, we outlined our Long Range Plan, designed to drive profitable, top-line growth and expand our market share. We made great strides in 2010 on these fronts. In developing our strategies, we took into account...

  • Page 5
    ...." mike Ullman CMYK JCP box wind-down of our legacy catalog business and exiting the outlet business, closing certain underperforming store locations and streamlining our customer call centers and custom decorating businesses. Expected to deliver $25 million to $30 million in cost savings in 2012...

  • Page 6
    ... the no. 1 most recognized brand in women's apparel. jcpenney is the perfect home for Liz Claiborne. The brand's loyal following-coupled with our ability to create meaningful assortments in key areas-has made it possible to provide customers a full lifestyle collection across 30 categories at more...

  • Page 7
    ... As the exclusive department store for all Liz Claiborne and Claiborne® branded merchandise in the United States and Puerto Rico, we're giving our customers complete head-to-toe looks in one destination. Available in more than 1,100 stores and on jcp.com, Liz Claiborne women's and Claiborne men...

  • Page 8
    ... business. CoCktaIl rInGS meSSenGer BaG Sephora continues to shine for jcpenney as our biggest growth area by bringing style and energy to the store experience. This year, we opened 76 new Sephora inside jcpenney beauty boutiques, for a total of 231. By the end of 2011, we plan to increase that...

  • Page 9
    ..., MNG by Mango is giving customers new, exciting reasons to shop early and often. Launched in 77 stores and on jcp.com in August 2010, MNG by Mango will be in 500 stores by fall 2011. MNG by Mango enhances our exclusive contemporary assortment which includes ALLEN B.®, Ik Ronson® and Bisou Bisou...

  • Page 10
    ...special shopping experience with trusted quality, timeless style and outstanding customer service. In February 2011, we introduced the Modern Bride concept in our Fine Jewelry departments, just in time for Valentine's Day-a key fine jewelry shopping period. jcpenney dramatically expanded its modern...

  • Page 11
    LOOK fact: more than 65% of brides give direct input on their engagement ring, with 23% personally selecting the ring. tHe PeRFeCt MaRRIaGe OF styLe and a UnIQUe sHOPPInG eXPeRIenCe adds FResH aPPeaL FOR OUR CUstOMeRs A NEW APPROACH TO FINE JEWELRY We're focused on creating a strong portfolio of ...

  • Page 12
    fact: Private brands St. John's Bay® and the original arizona Jean Company® are $1 billion brands for jcpenney and have achieved consumer awareness on par with major national brands. BRAND 12

  • Page 13
    ... high-quality, fashion-forward looks that make jcpenney a style destination. Developed, designed and sourced in-house, jcpenney private brands generate approximately 50% of our annual revenue. They build on our industry-leading product development and merchandise flow initiatives, giving us a unique...

  • Page 14
    THUMBS UP , STATUS UPDATE With over 1.4 million fans and growing, our Facebook® page is a vital tool for engaging our customers as they explore and share the jcpenney brand. This year we took our Facebook experience to the next level by launching an integrated e-commerce application on our page. ...

  • Page 15
    ... store customers and associates access to the expanded assortments and product information available on jcp.com. Offering an in-store digital experience that drives additional sales is a true differentiator, and continues to build on our leadership in the digital space as we integrate our online...

  • Page 16
    BRAND NEW jcpenney Is RewaRdInG LOyaL sHOPPeRs and GettInG tHe InsIde tRaCK On wHat OUR CUstOMeRs tHInK CONNECT. COMMUNICATE. CONTRIBUTE. jcpenney has an exclusive online community-chosen from our JCP Rewards members-of more than 5,000 trusted advisors that we call on for insights on everything ...

  • Page 17
    ... increased membership in JCP rewards from 8 million to 26 million in 2010 by extending membership to every one of our credit card holders. JCP REWARDS: More than 60% of known jcpenney customers are now enrolled in JCP Rewards. Members are taking advantage of exclusive sneak preview sales, giveaways...

  • Page 18
    WINNING fact: jcpenney associates earned their highest-ever overall satisfaction scores from customers during the 2010 holiday shopping season. 18 nessa Scaria is one of 150,000 associates proudly practicing great CustomerFIrSt service every day.

  • Page 19
    ...CULtURe WINNOVATION STRATEGY In 2010, every one of our 8,000 supply chain associates-from unit leaders to hourly associates-participated in WINnovation training, a program focused on driving process excellence, innovation and collaboration across our 18 locations. Since the program launched in 2009...

  • Page 20
    CARE. SHARING THE HOLIDAY SPIRIT Our customers want to make a difference during the holidays. Through our online Angel Giving Tree program, we made it easier than ever to help children and seniors in need. As the exclusive online destination for adopting Salvation Army Angels, jcp.com/angel allowed ...

  • Page 21
    SHARE.GIVE. a COMPany FOUnded On tHe GOLden RULe, jcpenney Has Made GIVInG BaCK a way OF LIFe GROWING FIRST® ROBOTICS TEAMS As the leading corporate advocate for positive afterschool programs, jcpenney increased its support of FIRST (For Inspiration and Recognition of Science and Technology) by ...

  • Page 22
    ...a new retail concept catering to the men's big & tall customer. Carrying an extensive assortment of highly sought-after, national men's brands and private brand merchandise, these specialty stores will supply big & tall men with an upscale, one-stop shopping experience. The Foundry Big & Tall Supply...

  • Page 23
    ...Foundry Big & tall Supply Co. stores feature an urban, industrial design. digital store renderings CLAD AND GIFTING GRACE Launching in summer 2011, CLAD and Gifting Grace are strategic collaborations with Hearst Magazines and are key drivers in creating the next generation of high-potential online...

  • Page 24
    ... and calculation of comparable store sales may differ from other companies in the retail industry. (2) Adjusted income from continuing operations and adjusted diluted earnings per share (EPS) from continuing operations exclude the non-cash impact of our primary pension plan expense/(income), net of...

  • Page 25
    ... President, Product Development, Design and Sourcing Founder and Former Chairman and Chief Executive Officer, Oxygen Media John J. Tighe Senior Vice President, General Merchandise Manager--Home Lorraine Hitch Senior Vice President, General Merchandise Manager-Handbags and Shoes Clark McNaught...

  • Page 26
    ... website at jcpenney.net on the morning of the earnings release. Audio replays of the call are available up to 90 days following the event. annual meeting Friday, May 20, 2011, at 10:00 a.m. CDT J. C. Penney Company, Inc. Home Office 6501 Legacy Drive Plano, TX 75024 Fiscal 2011 sales release dates...

  • Page 27
    Contact Information J. C. Penney Company, Inc. 6501 Legacy Drive Plano, TX 75024 972-431-1000 Shopping: jcp.com Company information: jcpenney.net Media Relations: 972-431-3400 [email protected] Investor Relations: 972-431-5500 [email protected]

  • Page 28
    J. C. Penney Company, Inc. 6501 Legacy Drive Plano, TX 75024 jcp.com and jcpenney.net