J. C. Penney Company, Inc. is a holding company whose principal operating subsidiary is J. C. Penney Corporation, Inc. (JCP). The Company�s business consists of selling merchandise and services to consumers through its department stores and through its Internet Website at jcp.com. As of February 2, 2013, the Company operated 1,104 department stores throughout the continental United States, Alaska and Puerto Rico, of which 429 were owned, including 123 stores located on ground leases. It sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside jcpenney and home furnishings. In addition, the Company�s department stores provide its customers with services such as styling salon, optical, portrait photography and custom decorating.