Corporate Information | JCPenney Newsroom (2024)

FAQs

What happened to JCPenney? ›

After filing for Chapter 11 bankruptcy protection in May 2020, in September 2020, Brookfield Asset Management and Simon Property Group agreed to purchase the company for around $800 million in cash and debt. The deal was approved by the U.S. bankruptcy court for the Southern District of Texas two months later.

James Cash Penney died in New York City on February 12, 1971, at the age of ninety-five. He is buried at Woodlawn Cemetery in the Bronx.

Guided by the Golden Rule, JCPenney employs more than 50,000 associates worldwide and has served customers for over 120 years, playing a vital role in the communities it serves. JCPenney was founded in Kemmerer, Wyoming, in 1902 by James Cash Penney.

Marc Rosen (Nov 1, 2021–)

JCPenney / CEO

O'Neal is the second-largest individual shareholder of Authentic Brands Group, the company behind dozens of brand and retailer acquisitions, including Forever 21, Barneys New York, JCPenney, Reebok, Vince and Hunter Boots.

High Debt Levels: JCPenney carried a significant amount of debt, which limited its ability to invest in growth initiatives and respond to changing market conditions. Lack of Innovation: The company failed to innovate and differentiate itself from competitors, leading to a decline in relevance among consumers.

American

James Cash Penney / Nationality

His first marriage, to Bertha Alva Hess (1869–1910) in 1899, produced two sons before her death from pneumonia: Roswell Kemper Penney (1901–1971), who married Willa Graff. James Cash Penney III (1903–1938), who married Louise Ducoudray in 1927.

Unfortunately Penney's wife died of pneumonia in 1910 and left him with his two sons. He did not remarry for almost ten years. Unfortunately, his next wife, Mary Hortense Kimball passed away after only four years of marriage after giving birth to a son and facing medical issues.

On Monday, JCPenney was formally acquired by Simon Property Group SPG -0.3% and Brookfield Asset Management, two of the country's largest mall operators, after the slow purchase process.

What was the old name of JCPenney? ›

JCPenney is an iconic American retail company and key anchor store in shopping malls across the United States. JCPenney traces its origins back to April 14, 1902, when founder James Cash Penney and his partners opened the Golden Rule dry goods store in Kemmerer, Wyoming.

With the exception of certain private brand window coverings, JCPenney does not manufacture any of the products that we sell. For our private brand merchandise, we source from suppliers that operate in or import from over 30 countries.

JCPenney, a stalwart in the industry, has managed to stay afloat alongside Macy's and Nordstrom, but recent data suggests troubling trends for the retailer. According to a financial filing with the SEC, JCPenney reported a significant decline in net sales and total revenue during the third quarter of fiscal 2023.

Whether you're looking to capture a special milestone, update your family photo album, or simply create a lasting memory, JCPenney Portraits can help you make it happen. Our professional photographers will guide you through a variety of different poses and looks to create a personalized and memorable experience.

After five years, JCPenney reintroduces catalog mailings. feature more of a magazine look and feel. The value of direct mail got a huge validation when retailer JCPenney recently announced that it is again betting big on print by relaunching its flagship catalog.

JCPenney has around 670 stores today and has little debt for the first time in years. The company is owned by mall landlords Simon Property Group (SPG) and Brookfield Asset Management (BAM). The two firms rescued JCPenney out of bankruptcy for $1.75 billion in the fall of 2020.

How many JCPenney stores are there in the United States? There are 663 JCPenney stores in the United States as of March 20, 2024. The state and territory with the most number of JCPenney locations in the US is Texas, with 73 stores, which is about 11% of all JCPenney stores in the US.

In June 2024, JCPenney announced that it would shutter four more locations, including: Shoppes at Bel Air in Mobile, Alabama. Sikes Senter in Wichita Falls, Texas. Elm Plaza in Waterville, Maine.