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Company Receives Multiple Honors for Forging Relationships with Minority and Women-Owned Businesses
Submitted by: JCPenney Company
Posted: Jan 12, 2010 – 10:25 AM EST
PLANO, Texas, Jan. 12 /CSRwire/ - J. C. Penney Company, Inc. (NYSE: JCP) was recently honored with several distinctions for the Company's pioneering legacy of building supplier relationships with minority and women-owned businesses. The national Women's Business Enterprise inducted JCPenney into its Hall of Fame for contributing to the success of women in the marketplace. Additionally, Olive Tree Publishing Inc., the publisher of Black EOE Journal, Hispanic Network Magazine and Professional Woman's Magazine selected JCPenney for the Top Retailer and Top Supplier Diversity Program awards. In the publications' 2009 "Best of the Best" annual review series, JCPenney was chosen among 900 leading corporations for achieving excellence in diversity by expanding career advancement opportunities for American minority groups.
"This recognition by all organizations is a reflection of our long-standing commitment of working with minority and women-owned businesses," said Chairman and Chief Executive Officer Myron E. (Mike) Ullman, III. "Our Company's focus on inclusion and diversity among our Associates, customers, and suppliers is integral to offering merchandise and services that reflect the full range of our customers' lifestyles, which includes half of America's families."
JCPenney's supplier diversity initiative was formalized in 1972 by becoming one of the founding members of the National Minority Supplier Development Council and subsequently, the Women's Business Enterprise Council. Widely regarded as a visionary company, JCPenney sought to work with qualified suppliers of diverse backgrounds and ethnicities by increasing opportunities for women and minority business owners who were striving for equal consideration on contract proposals with corporations and government agencies. Through these networks, JCPenney's participation helped to identify and implement best practices and translated those learnings into an organizational environment that respects and values diversity as a standard business model.
Since the program's inception, JCPenney has realized substantial growth in the purchase of merchandise, goods and services from minority and women-owned businesses. Advancing Supplier Diversity is one of the key strategies to JCPenney's social responsibility platform of Responsible Sourcing known as C.A.R.E.S. – which represents the Company's ongoing commitment to Community, Associates, Responsible Sourcing, Environment and Sustainable Products.
About JCPenney C.A.R.E.S.
JCPenney has built a legacy of operating in an ethical and socially responsible manner. In 2007, the Company launched its Corporate Social Responsibility (CSR) initiative – C.A.R.E.S. – stemming from the vision that JCPenney cares for its Community, Associates, Responsible Sourcing, Environment and Sustainable Products. The Company's commitment to social responsibility reflects its philosophy that "Every Day Matters" – for its customers, Associates, communities, investors and suppliers. JCPenney was named in 2009 to the Dow Jones Sustainability Index of the leading public companies in North America for corporate sustainability and ranked No. 44 in the Newsweek Green Rankings of America's 500 largest corporations. Additional information on JCPenney's CSR initiatives can be found at www.jcpenney.net/about/social_resp/
JCPenney is one of America's leading retailers, operating 1,109 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, www.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 $18.5 billion in 2008 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 150,000 Associates to offer encouragement, provide ideas and inspire customers every time they shop with JCPenney.
About Olive Tree Publishing
Olive Tree Publishing is the publisher of the Black Equal Opportunity Employment Journal, the Hispanic Network Magazine, and the Professional Woman's Magazine. Founded in 1991, the Black EOE Journal is dedicated to promoting the advancement of African-Americans in all aspects of business and employment to ensure equal opportunity. For over a decade, the Hispanic Network Magazine has reported vital news influencing the Hispanic community and shared pertinent principles to empower each individual in achieving both business and employment/career success. Professional Woman's Magazine (PWM) is dedicated to promoting the advancement of multi-cultural diverse women in all aspects of business and employment, to ensure equal opportunity. For additional information, please go to http://www.hnmagazine.com.
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