J. C. Penney (JCP) Unveils New Transformation Initiatives; Will Begin Feb. 1st

At a launch event in New York City this morning, J. C. Penney Company, Inc. (NYSE: JCP) revealed its plans to become America's favorite store. In a presentation titled "In Praise of Fresh Air," Ron Johnson, the Company's chief executive officer, and Michael Francis, its president, detailed the initiatives that will transform the jcpenney shopping experience by fundamentally re-imagining every aspect of the Company's business and boldly pursuing change.

Key items:

• Fair and Square Pricing and Monthly Promotions in Sync with Customers' Lives;
  
  
• Re-inventing the In-Store Experience around New and Transformed Brands;
  
  
• Launching a new jcpenney brand identity, new logo, new look and Ellen!In celebration of the complete transformation of its shopping experience, Mr. Johnson and Mr. Francis gave an overview of the new jcpenney brand identity. It includes:
  • The new jcpenney logo, which combines the elements that have made jcpenney an enduring American brand, by evoking the nation's flag and jcpenney's commitment to treating customers Fair and Square. The square frame imagery will be evident throughout all of jcpenney's marketing, to remind customers to frame the things they love.
    
    
  • New brand marketing to showcase great product in an exciting new way, to solidify jcpenney's relationship with its loyal customers and entice new ones. This includes the new monthly book, beginning next month, that millions of Americans will receive, which includes 96 pages of highlights for that month, as well as an entirely new look for jcpenney stores in terms of signage and presentation.
    
    
  • Welcoming Ellen DeGeneres back to jcpenney, as jcpenney's new brand partner. Ellen began her career in her teens as a jcpenney associate and now, as one of the country's most beloved television personalities, she will help bring the new jcpenney experience to life in her own fun-loving, sneaker-wearing, laugh-making way.

The Company will begin the transformation of the jcpenney shopping experience on February 1, with the implementation of its new logo, pricing strategy and monthly cadence, including new in-store signage reflecting true price clarity as well as edited merchandise assortments for the monthly store set.

Then, beginning in August of this year, jcpenney will begin a month-by-month, shop-by-shop strategy to update all stores with new and exciting merchandise and presentation. Two to three shops will be installed monthly, each and every month, over a four-year transformation period, including the debut of Town Square during 2013. These initiatives will culminate in the complete transformation of jcpenney by the end of 2015.

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