Last year's fourth quarter and full year income from continuing operations included income of $0.21 and $0.20 per share, respectively, from one-time tax credits. Net income for this year's fourth quarter and full year, including the impact of discontinued operations, was $2.09 and $4.96 per share, respectively.
"The fourth quarter marked a very strong end to a year of great achievement at JCPenney," said Myron E. (Mike) Ullman III, chairman and chief executive officer of JCPenney. "Over the course of 2006, we saw continued growth in both sales and operating profit."
"This reflects the ongoing improvements we made in our merchandise assortments, as well as further refinements to our highly effective planning and allocation systems to ensure we have the right products for our customers whenever they want them."
"We also launched our accelerated store opening program, opening 28 new stores this year, increasing our presence around the U.S. and making it even more convenient to shop at JCPenney."
Ullman continued, "In 2007, we will build on what we have accomplished in executing our Long Range Plan strategies, with the primary objective of exceeding our customers' expectations every time they shop at JCPenney. We started this process with the recent introduction of our new brand positioning, Every Day Matters, through which we will form a deeper, more enduring relationship with our customers."
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JC Penney Company Inc, USA
marketing@alchempro.com
