DALLAS — J.C. Penney Co. will open an import and export branch in Mexico City on Feb. 1 called J.C. Penney Mexican Trading Co.

The branch will import goods for Penney’s seven planned stores in Mexico and also source merchandise for export to the U.S. stores and catalog operations.

Five of Penney’s buyers will transfer from the U.S. to the new company, to be based in the IBM de Mexico building.

Penney’s will open its first Mexican store on March 15, 1995, a 160,000-square-foot unit in Leon.