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J. C. Penney Opens 10 New Stores

BY CSA STAFF

J. C. Penney Co. announced the opening of 10 new stores nationwide as it continues to grow and enhance its store base throughout the country.

The following locations have been opened: Lake Havasu City, Ariz., The Shops at Lake Havasu; Antioch, Calif., The Orchard at Slatten Ranch; Panama City Beach, Fla., Pier Park; Spring Hill, Fla., Nature Coast Commons; Council Bluffs, Iowa, The Marketplace; Burton, Mich., Courtland Center; Chesterfield Township, Mich., Waterside Marketplace; Myrtle Beach, S.C., Coastal Grand Mall; Rockwall, Texas, The Plaza at Rockwall; and Menomonee Falls, Wis., Crossroads Shopping Center.

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JCPenney reports Feb. comps drop

BY CSA STAFF

PLANO, Texas JCPenney today reported that comparable-store sales decreased 6.7% for the four weeks ended March 1, compared with guidance for a low-single digit decrease. In last year’s February period, comparable-store sales increased 1.5%. Total sales in February decreased 4.4%.

JCPenney said that womens and childrens apparel and family footwear were the best performing merchandise divisions for the February period. The company also commented that its new American Living concept has “enjoyed a good initial customer response.” Home categories and the Southeast region continue to experience the softest results, the company reported.

JCPenney said it expects a low-single digit increase in March comparable-store sales. This is compared to an 11% increase in last years period. Total sales for the March period are expected to be about flat.

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Target meets Feb. comps goals

BY CSA STAFF

MINNEAPOLIS Target today reported that its net retail sales for the four weeks ended March 1 increased 5.9% to $4.4 billion from $4.1 billion for the four weeks ended March 3, 2007. On this same basis, February comparable-store sales increased 0.5%.

Our comparable store sales performance in February was in line with our planned range, said Bob Ulrich, chairman and chief executive officer of Target.

Target had called for February comps to be down 1% to up 1%.

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