Exhibit 23

                         INDEPENDENT AUDITORS' CONSENT
                         -----------------------------


The Board of Directors of
J.C. Penney Company, Inc.:


We consent to incorporation by reference in the Registration Statements on Form
S-8 (Nos. 33-28390, 33-59666, 33-66070, 33-66072, 333-13949, 333-22627, 333-
22607, 333-33343, 333-27329, 333-71237, 333-45536) and Form S-3 (No. 333-57019)
of J. C. Penney Company, Inc. of our reports dated February 22, 2001, relating
to the consolidated balance sheets of J. C. Penney Company, Inc. and
subsidiaries as of January 27, 2001 and January 29, 2000, and the related
consolidated statements of operations, stockholders' equity, and cash flows and
the financial statement schedule for each of the years in the three-year period
ended January 27, 2001, which reports are included or incorporated by reference
in the Annual Report on Form 10-K of J. C. Penney Company, Inc. for the year
ended January 27, 2001.


                                               /s/ KPMG LLP



Dallas, Texas
April 24, 2001