|Company Name:||J.C. Penney Company, Inc|
|Event Title:||Q2 2013 Earnings Call Transcript|
|Event Time:||08:30 AM ET|
Good day, ladies and gentlemen and welcome to the Quarter Two 2013 J. C. Penney Company, Inc. Earnings Conference Call. My name is Sue and I will be your operator for today. At this time all participants are in listen-only mode. We will conduct a question-and-answer session towards the end of the conference. [Operator Instructions]. As a reminder, this call is being recorded for replay purposes.
And now I would like to hand the call over to Ms. Kristin Hays. Please proceed.
Senior Vice President, Investor Relations and Communications
Thank you, Sue.
As a reminder the presentation this morning includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which reflects the company's current view of future events and financial performance.
The words expect, plan, anticipate believe, and similar expressions identify forward-looking statements. Any such forward-looking statements are subject to risks and uncertainties and the company's future results of operations could differ materially from historical results or current expectations.
For more details on these risks please refer to the company's Form 10-K and other SEC filings. Also please note that no portion of this presentation maybe rebroadcast in any form without the prior written consent of J. C. Penney. For those listening after August 20, 2013, please note that this presentation will not be updated and it is possible that the information discussed will no longer be current.
With that I will now turn the call over to our CEO, Mike Ullman.
Myron E. (Mike) Ullman, III
Chief Executive Officer
Good morning and thank you for joining us.
I've been looking forward to being able to speak with you about the company and how we're progressing on the journey to restore growth and return to profitability.
Before I address the specifics, there is an obvious question about what do we stand for, what's our unique position in the marketplace and how do we successfully compete especially when we do it well?
You may remember in 2011, J.C. Penny did business at least once with over 50% of the families in America. We enjoy a 111 year old tradition of being a trusted destination for high quality goods at prices affordable for the hardworking American family. A friendly smile and the golden rule approach to taking care of customers has served for generations under one flag J.C. Penny.
While the business climate today is very different and more competitive than it's ever been, the values and principles of our business have not changed. Our business is build around having strong private brand merchandize, high quality, relevant style at compelling prices.