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J. C. Penny Financial Report

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The Official Name of the Corporation The official name of the corporation is J. C. Penny Company Inc.(JC Penny, 2013). The official name can be located on the title page of the annual report. Location of the Company Headquarters The location of the company headquarters is located at 6501 Legacy Dr. Plano, Texas 75024 and is part of the New York stock exchange (JC Penny, 2013). The report being analyzed reflects for the fiscal year ended February 2, 2013. The results reflect the company’s primary products of Women’s apparel, Men’s apparel and accessories, Home, Women’s accessories including Sephora, Children’s apparel, Family footwear, Fine jewelry, Service and other. The company is currently under the leadership of CEO Ronald Johnson age 54, …show more content…

His background prior to taking position as CEO of JC Penny he joined Retail of Apple Inc. in 2000 as a Senior Vice President. Prior to joining JCP Penny and Apple he executed in different areas and positions with Target Corporation, as Senior Vice President of Merchandising. “. During his tenure at Target, Mr. Johnson had responsibility for such categories as Men’s Apparel, Women’s Apparel and Accessories, Children’s and Home. He has served as a director of the Company and as a director of JCP since 2011” (JC Penny, 2013 p 50). CFO Michael W. Kraner also has an extensive background. Mr. Kraner has been CFO since December 2011 and before joining the company he was CFO of Kellwood Company. Prior to JC Penny and Kellwood Company, Mr Kraner was Executive Vice President and CFO at Ambercrombie & Fitch from 2005 to 2008. Along with CEO Ronald Johnson, Mr Kraner worked at Apple Inc. from 2000-2005 as Chief Financial Officer of Apple Retail. His experience extends to also holding key financial leadership positions with The Limited, Pizza hut and Einstein Noah Bagel Corporation (JC Penny, …show more content…

Executive Compensation The information required by Item 11 is included under the captions “Compensation Committee Interlocks and Insider Participation,” “Compensation Discussion and Analysis,” “Report of the Human Resources and Compensation Committee,” “Summary Compensation Table,” “Grants of Plan-Based Awards for Fiscal 2012,” “Outstanding Equity Awards at Fiscal Year-End 2012,” “Option Exercises and Stock Vested for Fiscal 2012,” “Pension Benefits,” “Nonqualified Deferred Compensation for Fiscal 2012,” “Potential Payments and Benefits on Termination of Employment,” “Termination Without a Change in Control,” “Change in Control; Termination Following a Change in Control,” and “Director Compensation for Fiscal 2012” in our Company’s definitive proxy statement for 2013, which will be filed with the Securities and Exchange Commission pursuant to Regulation 14A and is incorporated herein by reference. Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters The information required by Item 12 with respect to beneficial ownership of our Company’s common stock is included under the caption “Beneficial Ownership of Common Stock” in our Company’s definitive proxy statement for 2013, which will be filed with the Securities and Exchange Commission pursuant to Regulation 14A and is incorporated herein by reference” (JC Penney, 2013,

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