"Penny Lane" was released in America on February 13th, 1967 as the flip-side to "Strawberry Fields Forever". It entered the Hot 100 at 85. "Strawberry Fields Forever entered the Hot 100 at 83. By the second week, "Penny Lane" had shot up to number 36, leaving SFF behind at number 45. On March 18th it became their 13th number one single. In Great Britain it peaked at number two, becoming the first new Beatles single to fail to reach number one since "Love Me Do".
"Penny Lane" replaced "Love Is Here and Now You're Gone" by the Supremes and was number one for one week. After that, The Turtles' "Happy Together" had it's turn at number one.