JCPenney opens 22 new stores
Year-to-date, the company has opened 44 new stores, and will open six more in the coming weeks. These store openings are part of the company's long-range plan to open 250 new and relocated stores from 2007 through 2011. 20 of the 22 newly opened stores are in off-mall locations, and all new stores incorporate a variety of features designed to enhance the shopping experience for customers. Many of these features are also being incorporated across JCPenney nationwide through its store remodeling program, which includes 65 remodels to be completed in 2007 and a total of 300 by 2011. Myron Ullman III, JCPenney chairman and CEO, said: "Our new store and remodeling programs, coupled with our new merchandise and service initiatives, clearly reflect our commitment to making our customers' days easier, more convenient and more fun. We are incorporating the best new features into our plans for coming years to ensure that JCPenney continues to surpass our customers' expectations every time they shop with us."