SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    _________

                                    FORM 8-k

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                       THE SECURITIES EXCHANGE ACT OF 1934

       Date of Report (Date of earliest event reported): October 29, 2003




                           J. C. Penney Company, Inc.
             (Exact name of registrant as specified in its charter)




 Delaware                         1-777                         13-5583779
(State or other jurisdiction  (Commission File No.)           (I.R.S. Employer
 of incorporation )                                         Identification No.)

6501 Legacy Drive
Plano, Texas                                                       75024-3698

(Address of principal executive offices)                            (Zip code)


Registrant's telephone number, including area code:  (972) 431-1000




Item 5.  Other Events and Regulation FD Disclosure

     See copy of JCPenney News Release dated  October 29, 2003,  announcing  the
sale of the Company's Mexico operation, attached as Exhibit 99.



Item 7.  Financial Statements and Exhibits.

     (c)  Exhibits.

          99   J. C. Penney Company, Inc. News Release of October 29, 2003.




                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                   J. C. PENNEY COMPANY, Inc.



                                   By:  /s/ Charles R. Lotter
                                       ----------------------------------------
                                        Charles R. Lotter
                                        Executive Vice President, Secretary and
                                          General Counsel

Date:  October 29, 2003