PLANO, Texas, May 08, 2008 (BUSINESS WIRE) -- J. C. Penney Company, Inc. (NYSE:JCP) comparable store sales
decreased 1.7 percent for the four weeks ended May 3, 2008, compared
to guidance for sales to decrease mid- to high-single digits and
compared to a 3.4 percent decrease last year. Sales benefitted in the
month from more favorable weather trends in some regions of the
country that boosted seasonal apparel sales, and customer response to
promotional and clearance activities.

The top performing merchandise divisions during the month were in
apparel and family footwear, while fine jewelry and home categories
continued to experience weaker sales. Geographically, the best
performing regions of the country were the northeast and central
regions.

                   Preliminary April Sales Summary
                           ($ in millions)

                                                % Increase/(Decrease)
                                               -----------------------
                                 Period ended  Total Sales Comp Stores
                                 ------------- ----------- -----------
                                 May 3, May 5,
                                  2008   2007  2008  2007  2008  2007
                                 ------ ------ ----- ----- ----- -----
4 Weeks
--------------------------------
Total Company                    $1,333 $1,321  0.9  (3.5) (1.7) (3.4)

13 Weeks
--------------------------------
Total Company                    $4,127 $4,350 (5.1)  3.1  (7.4)  3.4

May Sales Outlook

Management's guidance for the four-week period ending May 31,
2008, is for a mid-single digit decrease in comparable store sales,
compared to a 0.9 percent decrease in last year's May period.

First Quarter Earnings Conference Call

Management will host a live conference call and real-time webcast
on May 15, 2008, 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 and reference the
JCPenney First Quarter Earnings Conference Call. The telephone
playback will be available for two days beginning approximately two
hours after the conclusion of the call by dialing 877-660-6853,
account code 286, pass code 284824. The live webcast may be accessed
via JCPenney's Investor Relations page at jcpenney.net, or on
streetevents.com (for members) and fulldisclosure.com (for media and
individual investors). 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 1,074
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 $19.9 billion in 2007 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 155,000 Associates to
offer encouragement, provide ideas and inspire customers every time
they shop with JCPenney.

This release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements, which reflect the Company's current views
of future events and financial performance, involve known and unknown
risks and uncertainties that may cause the Company's actual results to
be materially different from planned or expected results. Those risks
and uncertainties include, but are not limited to, general economic
conditions, including inflation, recession, consumer spending patterns
and debt levels, the cost of goods, trade restrictions, changes in
tariff, freight, paper and postal rates, changes in the cost of fuel
and other energy and transportation costs, competition and retail
industry consolidations, interest rate fluctuations, dollar and other
currency valuations, risks associated with war, an act of terrorism or
pandemic, and a systems failure and/or security breach that results in
the theft, transfer or unauthorized disclosure of customer, employee
or Company information. Please refer to the Company's most recent Form
10-K and subsequent filings for a further discussion of risks and
uncertainties. Investors should take such risks into account when
making investment decisions. We do not undertake to update these
forward-looking statements as of any future date.

SOURCE: J. C. Penney Company, Inc.

J. C. Penney Company, Inc.
Investor Relations
Bob Johnson, 972-431-2217
rvjohnso@jcpenney.com
or
Phil Sanchez, 972-431-5575
psanc3@jcpenney.com
or
Kristin Hays, 972-431-1261
klhays@jcpenney.com
or
Media Relations
Darcie Brossart or Quinton Crenshaw, 972-431-3400
jcpcorpcomm@jcpenney.com

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