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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 MaGXqIk2WboZDC4NLP3Igukr7mfqa/cblzfc3p5VpVaFK1rj32KWjeKVQsAg6GKS
 eaxuqf9mWd3MifePtt4D5w==

<SEC-DOCUMENT>0001140361-10-012783.txt : 20100318
<SEC-HEADER>0001140361-10-012783.hdr.sgml : 20100318
<ACCEPTANCE-DATETIME>20100318171905
ACCESSION NUMBER:		0001140361-10-012783
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100316
FILED AS OF DATE:		20100318
DATE AS OF CHANGE:		20100318

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			J C PENNEY CO INC
		CENTRAL INDEX KEY:			0001166126
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-DEPARTMENT STORES [5311]
		IRS NUMBER:				260037077
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	BUSINESS ADDRESS:	
		STREET 1:		6501 LEGACY DRIVE
		CITY:			PLANO
		STATE:			TX
		ZIP:			75024-3698
		BUSINESS PHONE:		9722431100

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	J C PENNEY HOLDINGS INC
		DATE OF NAME CHANGE:	20020128

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Miller Dennis P
		CENTRAL INDEX KEY:			0001436869

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15274
		FILM NUMBER:		10692284

	MAIL ADDRESS:	
		STREET 1:		6501 LEGACY DRIVE
		CITY:			PLANO
		STATE:			TX
		ZIP:			75024
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-03-16</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001166126</issuerCik>
        <issuerName>J C PENNEY CO INC</issuerName>
        <issuerTradingSymbol>JCP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001436869</rptOwnerCik>
            <rptOwnerName>Miller Dennis P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O J. C. PENNEY COMPANY, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>6501 LEGACY DRIVE</rptOwnerStreet2>
            <rptOwnerCity>PLANO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75024</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SVP, Controller</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock of 50 cents Par Value</value>
            </securityTitle>
            <transactionDate>
                <value>2010-03-16</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2441</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5864.955</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock of 50 cents Par Value</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13735</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Trustee of 401(k)</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee stock option/Right to Buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>30.72</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2010-03-16</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>16593</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2020-03-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>16593</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>16593</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents restricted stock units granted under the Company's 2009 Long-Term Incentive Plan. The restricted stock units will vest one-third on March 16, 2011, one-third on March 16, 2012 and one-third on March 16, 2013.</footnote>
        <footnote id="F2">Represents equivalent shares based on units of participation in the JCPenney stock fund allocated to Mr. Miller's account in the Company's 401(k) plan, as of March 1, 2010. The shares of JCPenney common stock in the fund are held by the trustee of the 401(k) plan. Changes in the amount of securities beneficially owned reflect changes in the value of the fund, the number of units of participation in the fund held by all participants, and the number of units of participation held by Mr. Miller.</footnote>
        <footnote id="F3">Represents grant of employee stock options under the Company's 2009 Long-Term Incentive Plan which vest one-third on March 16, 2011, one-third on March 16, 2012, and one-third on March 16, 2013.</footnote>
        <footnote id="F4">Represents current grant of stock options. Including the reported grant, Mr. Miller beneficially owns an aggregate of 64,625 stock options at various exercise prices.</footnote>
    </footnotes>

    <remarks>*** Under continuing POA as filed with the S.E.C.</remarks>

    <ownerSignature>
        <signatureName>*** /s/ Salil R. Virkar, attorney in fact</signatureName>
        <signatureDate>2010-03-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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