03.01
November Sales Outlook and Updated Third Quarter Earnings Guidance Management’s guidance for the four-tiffany earring period ending Nov. 28, 2009, is for a 4 to 7 percent decrease in comparable store sales, compared to an 11.9 percent decrease in last year’s November period.
Management now expects third quarter earnings to be in the range of $0.10 to $0.11 per share, including a charge of approximately $0.03 per share, primarily related to non-recurring real estate impairments. The Company’s most recent guidance was for third quarter earnings to be in the range of $0.03 to $0.10 per share. Third Quarter Earnings Release JCPenney will release its third quarter financial results before the market opens on Friday, Nov. 13, 2009. Management will host a live conference call and real-time webcast on Nov. 13, 2009, beginning at 9:30 a.m. ET. Access to the conference call is open to the press and general public in a listen-only mode. To access the conference call, please dial 877-407-0778, or 201-689-8565 for international callers, and reference the JCPenney Third Quarter Earnings Conference Call. The telephone playback will be available for seven days beginning approximately two hours after the conclusion of the call by dialing 877-660-6853, account code 286, conference ID charm bracelet 328509. The live webcast may be accessed via JCPenney’s Investor Relations page at jcpenney.net, on streetevents.com (for members) or on investorcalendar.com. Replays of the webcast will be available for up to 90 days after the event. Sales Conference Call Recording (8:30 a.m. ET) — (877) 793-7778 About JCPenney JCPenney is one of America’s leading retailers, operating 1,109 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation’s largest general merchandise catalog business. Through these integrated channels, JCPenney offers a wide array of national, private and exclusive brands which reflect the Company’s commitment to providing customers with style and quality at a smart price. Traded as “JCP” on the New York Stock Exchange, the Company posted revenue of $18.5 billion in 2008 and is executing its strategic plan to be the growth leader in the retail industry. Key to this strategy is JCPenney’s “Every Day Matters” brand positioning, intended to generate deeper, more emotionally driven relationships with customers by fully engaging the Company’s approximately 150,000 Associates to offer encouragement, provide ideas and inspire customers every time they shop with JCPenney.
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This article was prepared by Real Estate Weekly News editors from staff and other reports. Copyright 2009, Real Estate Weekly News via VerticalNews.com.