JCPenney opens 14 stores under growth plan

PLANO, Texas JCPenney has announce that it is opening 14 new stores nationwide today, as part of its plan to open 250 new stores from 2007 through 2011.

"We are delighted to be able to bring all that JCPenney has to offer, including an inspiring assortment of brands and services, to customers around the country as they prepare for the back-to-school season and all of the important moments in their lives," said Myron Ullman, III, JCPenney chairman and ceo. "Our location strategy offers us the flexibility to open stores where the opportunities best suit us, whether in a mall or off-mall. This flexible approach gives us a distinct competitive advantage and the greatest opportunity to attract new customers and address the strong demand we see for JCPenney's offering in both large and mid-size markets."

The stores that opening today are located in Alabaster, Ala.; Phoenix and Montrose, Colo.; Nampa, Idaho; North Aurora and Montgomery, Ill.; Colerain, Ohio; Midwest City and Moore, Okla.; Burlington, N.C.; Saratoga Springs, N.Y.; Hampton, Va.; and San Antonio and Cypress, Texas.

The company also provided details on its store growth saying that 80% to 90% of the new JCPenney stores opening through 2011, including 11 of the 14 opening today, will be off-mall stores, although the company said it would continue to pursue mall-based opportunities in attractive locations. The off-mall format, covering approximately 100,000 square feet on a single level, features wider aisles, new lighting designs, convenient price-check scanners and front linear checkout centers.