J.C. Penney To Open 5 Stores In Mexico

DALLAS

J.C. Penney Co. plans to open five stores in Mexico within the next four years, an official said yesterday.

Duncan Muir, a Penney spokesman, confirmed that three stores will be in Mexico City, one on Monterrey and one in Guadalajara. He said no other details will be available for 30 to 45 days, but that the company is "actively exploring other locations in Mexico."

"It is still premature to talk about," he added. Penney's previously announced interest in Mexico has not surprised analysts.

The retailer has experienced strong sales performance in South Texas markets such as San Antonio, Brownsville, Laredo, El Paso, McAllen and Weslaco.