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12/14/24, 4:17 AM JCPenney - Wikipedia
JCPenney
Penney OpCo LLC, doing business as JCPenney
Penney OpCo LLC
and often abbreviated JCP, is an American
department store chain that operates 656 stores
across 49 U.S. states and Puerto Rico.[3][4]
Departments inside JCPenney stores include Men's,
Women's, Boys', Girls', Baby, Bedding, Home, Fine
Jewelry, Shoes, Lingerie, JCPenney Salon, JCPenney
Beauty, as well as leased departments such as
Seattle's Best Coffee, US Vision optical centers, and
Lifetouch portrait studios.
Most JCPenney stores were initially located in

downtown areas, but, as shopping malls grew in
JCPenney store at Aventura Mall in 2006
popularity during the 1960s, the chain began
relocating and developing stores to anchor the malls. Trade name JCPenney
In recent years, JCP has opened stores in power Formerly J. C. Penney Company, Inc.
centers, as well as stand-alone stores, sometimes Company type Joint venture
adjacent to competitors. The company has been an
Traded as NYSE: JCP (1927–2020)
Internet retailer since 1998, and it has streamlined
its catalog and distribution while undergoing Industry Retail
renovation improvements at store level. Founded April 14, 1902
Kemmerer, Wyoming, U.S.
After filing for Chapter 11 bankruptcy protection in (J. C. Penney Company)
May 2020, Brookfield Asset Management and Simon Founders James Cash Penney
Property Group agreed to purchase the company for William Henry McManus
approximately $800 million in cash and debt in
Headquarters Plano, Texas, U.S.[1]
September 2020. The deal was approved by the U.S.
bankruptcy court for the Southern District of Texas Number of 656[2]
locations
two months later.[5]
Area served United States (excluding
Hawaii)
20th century Key people Ronald Tysoe (chairman)

Marc Rosen (CEO)
Michelle Wlazlo (EVP)
Background and early history: 1902–1960 Shawn Gensch (CCO)
James Cash Penney was born in Hamilton, Missouri. Products Apparel · footwear ·
accessories · jewelry ·
After graduating from high school, Penney worked
beauty products · home
for a local retailer. He relocated to Colorado at the
furnishings · electronics ·
advice of a doctor, hoping that a better climate would toys · hair styling · portraits
improve his health.[6] In 1898, Penney went to work
Owners Simon Property Group,
for Thomas Callahan and Guy Johnson, who owned Brookfield Asset
https://en.wikipedia.org/wiki/JCPenney 1/20
dry goods stores called Golden Rule stores in Management

Colorado and Wyoming.[7] In 1899, Callahan sent Website jcpenney.com (http://jcpenne
Penney to Evanston, Wyoming, to work with y.com)
Johnson in another Golden Rule store.[7] Callahan
and Johnson asked Penney to join them in opening a new
Golden Rule store. Using money from savings and a loan,
Penney joined the partnership and moved with his wife and
infant son to Kemmerer, Wyoming, to start his own store.[7]
Penney opened the store on April 14, 1902.[7] He participated
in the creation of two more stores and purchased full interest in
First J. C. Penney store in
all three locations when Callahan and Johnson dissolved their
Kemmerer, Wyoming. Originally
partnership in 1907. In 1909, Penney moved his company called The Golden Rule Store
headquarters to Salt Lake City, Utah to be closer to banks and
railroads. By 1912, Penney had 34 stores in the Rocky
Mountain States. In 1913, all stores were consolidated under
the J. C. Penney banner. The so-called "mother store", in
Kemmerer, opened as the chain's second location in 1904.
In 1913, the company was incorporated under the new name, J.

C. Penney Company, with William Henry McManus as a co-
founder. In 1914, the headquarters was moved to New York
City to simplify buying, financing, and transportation of
JCPenney mother store in
goods.[8] By 1917, the company operated 175 stores in 22 states Kemmerer, Wyoming, in September
in the United States. J. C. Penney acquired The Crescent Corset 2007.
Company in 1920, the company's first wholly owned
subsidiary. In 1922, the company's oldest active private brand,
Big Mac work clothes, was launched. The company opened its
500th store in 1924 in Hamilton, Missouri, James Cash
Penney's hometown. By the opening of the 1,000th store in A 2000s JCP logo
1928, gross business had reached $190 million (equivalent to
$3.37 billion in 2024).
In 1940, Sam Walton began working at a J. C. Penney in Des Moines, Iowa. Walton subsequently
founded retailer Walmart in 1962.[9] By 1941, J. C. Penney operated 1,600 stores in all 48 states. In
1956, J. C. Penney started national advertising with a series of advertisements in Life magazine. J.
C. Penney credit cards were first issued in 1959.
Full-line department store

The company dedicated its first full-line shopping-center
department store in 1961. This store was located at Black Horse
Pike Center in Audubon, New Jersey. The second full-line
shopping center store was dedicated, at King of Prussia Plaza in
King of Prussia, Pennsylvania in late 1962. Those stores
expanded the lines of merchandise and services that an average Penney Building in Anchorage in
J. C. Penney carried to include appliances, sporting goods, 1964, following the earthquake.
tools, garden\lawn merchandise, restaurants, beauty salons,
portrait studios, auto parts, and auto centers.
In 1962, J. C. Penney entered discount merchandising with the

acquisition of General Merchandise Company which gave them
The Treasury stores. These discount operations proved
unsuccessful and were shuttered in 1981. In 1963, J. C. Penney
issued its first catalog. The company operated in-store catalog
desks in eight states. The catalogs were distributed by the
Milwaukee Catalog distribution center.
In 1969, the company acquired Thrift Drug, a chain of

drugstores headquartered in Pittsburgh, Pennsylvania. It also
acquired Supermarkets Interstate, an Omaha-based food
retailer which operated leased departments in J. C. Penney
stores, The Treasury stores, and Thrift Drug stores.
Former Downtown Seattle store in

Expansion beyond the contiguous US 1982, with signage from the period
when the chain was branded as
In the 1960s, JCPenney expanded to include Alaska, Hawaii, Penneys and used a more stylized
and Puerto Rico. Stores were opened in Anchorage and font in its logo. Pike Place Market is
Fairbanks, Alaska in 1962, followed by Honolulu, Hawaii in in the background.
1966, and Puerto Rico in 1968. The Penney Building in
Anchorage partially collapsed and was damaged beyond repair
in the 1964 Alaska earthquake.[10][11] The company rebuilt the store as a shorter building on a
larger footprint and followed up by building Anchorage's first public parking garage, which opened
in 1968.[12] The Honolulu store was located at Ala Moana Center, and closed in 2003, along with
all remaining locations in the state, making Hawaii the only U.S. state to not currently have a
JCPenney store. The Penney store at Plaza Las Américas mall in San Juan, Puerto Rico, which
opened in 1968, featured three levels and 261,500 square feet (24,290 m2). It was the largest
JCPenney until a 300,000-square-foot (28,000 m2) store was dedicated at Greater Chicago's
Woodfield Mall in 1971. The Woodfield Mall store served as the largest in the chain until a
replacement store opened at Plaza Las Américas in 1998, which is 350,000 square feet
(33,000 m2) in size.
Death of J.C. Penney and peak: 1970s

On February 12, 1971, James Cash Penney died at the age of 95; the company's stores were closed
the morning of his funeral on February 16.[13] That year, the company adopted the JCPenney style
in advertising.[14] and its revenues reached $5 billion (equivalent to $37.6 billion in 2024) for the
first time and catalog business made a profit for the first time.[15]
JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line
establishments.[15] However, the company was hard hit by the 1974 recession with its stock price
declining by two-thirds.[15]
In 1977, J. C. Penney sold its four stores in Italy to Italian department store chain La Rinascente;
Penneys had opened in Italy in 1970 but left due to difficulties encountered when trying to expand
in Italy and had only ever opened stores in the Lombardy region.[16][17] In the same year they also
closed down their unprofitable Supermarkets Interstate supermarket brand which operated in
Treasury discount stores; however, the stores that were not in Treasury locations remained
open.[18]
In 1978, the J. C. Penney Historic District in Kemmerer, Wyoming, was designated a U.S. National
Historic Landmark. In 1979, JCPenney stores started accepting Visa cards. MasterCard was
accepted the following year.[15]
1980s
In 1980, the company closed the unprofitable Treasury discount stores to focus resources on its
core retail stores.[15]
In 1983, JCPenney discontinued its appliance, hardware, outdoor equipment, and auto center
departments, and also sold its automotive centers to Firestone. Also in 1983, it began selling goods
online through the Viewtron videotex service. That same year, fashion designer Roy Halston,
signed a six-year, $1 billion deal with JCPenney to sell a line of affordable clothing, accessories,
cosmetics, and perfumes ranging in price from $24 to $200. The move was considered
controversial then as no other high-end designer up to that point in time had licensed their designs
to a mid-price retailer. The line, named Halston III, would not last long, as it would be poorly
received and discontinued after about a year. However, the business move paved the way for other
such high-end designers to sell their products at stores of varying price ranges in the future.[19]
In 1984, JCPenney acquired the First National Bank of Harrington, Delaware and renamed it J. C.
Penney National Bank. With the acquisition of the bank, the company became able to issue its own
Mastercard and Visa Inc. cards. The company also began accepting American Express cards. Also
that year, Thrift Drug began co-locating stores with Weis Markets, and acquired many former
Pantry Pride properties. In April 1987, the company announced that it was moving its
headquarters to Plano, Texas.[20] After several years of development, the JCPenney Television
Shopping Channel appeared on cable systems beginning in 1989. By the mid-1980s, all JCPenney
stores had discontinued sales of firearms. Before this point, JCPenney carried rifles and shotguns
branded as JCPenney but produced by numerous established firearms manufacturers. In the 1980s
JCPenney's also stopped selling outdoor equipment and hardware such as lawn mowers and tools.
Acquisitions and international expansion: 1990s

Construction on the new company headquarters in Plano,
Texas broke ground in 1990 and were completed in 1992.
When Sears closed its catalog business in 1993, JCPenney
became the largest catalog retailer in the United States. In 1995
the chain expanded to Chile with a store in the capital,
Santiago. In 1995, the drug store business was expanded with
the acquisition of Kerr Drug and again in 1996 with the
purchase of Fay's Drug.[21][22] Then in November 1996 they
acquired the Eckerd chain. Fay's, Kerr, and Eckerd merged into Mall entrance of the now-closed
J. C. Penney's drug store subsidiary Thrift Drug. Fay's, most JCPenney outlet store at the
Kerr, and Thrift drug stores were re-branded Eckerd in 1997. Jamestown Mall in Florissant,
(Kerr Drug stores in The Carolinas remained branded as such Missouri (1998)
because they were part of a group of stores that were divested

because of trade competition issues raised during the merger.)[23]
On December 9, 1998, The New York Times reported JCPenney would acquire controlling interest
of Lojas Renner for a little over $33 million, which increased the company's maneuvering ability
with their already existing units in Chile, Mexico and Puerto Rico.[24] In 1998, JCPenney launched
its Internet store.[25]
Between 1995 and 1998, JCPenney entered Indonesia under partnership with Lippo Group (under
their Multipolar investment arm) with the branding JCPenney Collections, also used by multiple
international JCPenney branches across Asia during the decade. This type of JCPenney store only
featured fashion for men, women and kids. During its tenure, JCPenney opened two flagship
stores: in 1995 on the upper ground level of Lippo Supermal (now Supermal Karawaci), and in
1996 on the upper ground and first level of Mal Taman Anggrek. Aside from the two, JCPenney
also opened smaller stores under the JCPenney Collections name in a few malls such as Plaza Blok
M. All stores of JCPenney Collections in Indonesia started planning to close down due to 1997
Asian financial crisis – with the JCPenney Collections store in Taman Anggrek closed in December
1997, and the May 1998 riots – with the Lippo Supermal store looted by mass and also exiting the
mall that same month (having to close down for a period of time due to damage caused by arson in
other sections of the mall). Currently, the previous stores are occupied by H&M at Supermal
Karawaci and Matahari Department Store at Mal Taman Anggrek respectively.
JCPenney left Chile in 1999, after five years in the country it closed down its home store and sold
its main store in Santiago to Almacenes Paris. The stores were closed due to low profitability and
high expenses.[26][27]
21st century
2000s
In early 2001, JCPenney closed 44 under-performing stores. In
2001, JCPenney sold its direct-marketing insurance unit to
Dutch insurer Aegon for $1.3 billion (equivalent to
$2.24 billion in 2024) in cash to help refocus the company on
retail.[28] In 2003, the company opened three stores in strip
centers in Texas, Minnesota and Indiana. The new one-level,
94,000 sq ft (8,700 m2) format stores focus on convenience
with wider aisles and centralized checkouts.[29] In 2004, the
company added 14 more stores and exited the drug store Exterior of the JCPenney store at
division after 35 years, with the sale of its Eckerd division. The the Richland Mall in Ontario, Ohio
company also sold its six Mexico stores to Grupo Carso, which (2008)
rebranded five of the stores as Dorian's and the other one as

Sears Mexico. In 2005, JCPenney's e-commerce storefront exceeded the one billion dollar revenue
mark for the first time. At the same time in June, the company would sell off its shares of Lojas
Renner, the Brazilian-based retailer, generating $260 million from the sale as it discontinued its
operations with Renner and its Latin American footholds as well.[30][31]
In 2007, JCPenney launched the Ambrielle lingerie label, which became its largest private brand
launched in the company's history.[32] JCPenney also re-introduced cosmetics with the opening of
Sephora "stores-within-a-store" inside some JCPenney locations. Beginning in 2007, JCPenney's
store slogan changed from "It's All Inside" to "Every Day Matters." The new slogan and associated
ad campaign was launched in television commercials during the 79th Academy Awards in late
February 2007. After JCPenney sold off Eckerd in 2004, the locations that continued to operate as
Eckerd (some locations in the Southern U.S. were sold to CVS Corporation) still had JCPenney
Catalog Centers inside the stores (which was a carryover from locations that were once Thrift
Drug) and also continued to accept JCPenney credit cards. After Rite Aid finalized its acquisition of
Eckerd in 2007, the Catalog Centers inside the soon-to-be-converted stores permanently closed.
Although as a result of the acquisition, Rite Aid now accepts JCPenney credit cards, even at Rite
Aid locations that existed before the acquisition of Eckerd. In November 2007, the company
launched a new public website, JCPenneyBrands.com, which covers the company's private and
exclusive brands and its branding strategy, as well as a preview of an upcoming product line.
In February 2008, the company launched the American Living

brand, as developed by Ralph Lauren, across several product
lines. The launch, which was accompanied by an ad campaign
during the 80th Academy Awards, was the company's largest
private brand launch.[33] That summer, JCPenney also added a
new brand to its home collection, Linden Street. The Linden Exterior of the big-box format
Street brand features furniture, domestics, and home decor. JCPenney store in Houston, Texas
Linden Street is sold exclusively in JCPenney stores and (2009)
through its website. Other brands for juniors and young men
were launched that summer. They included a relaunch of Le
Tigre, along with Decree, and Fabulosity, a junior line of clothing by Kimora Lee Simmons.
In July 2009, new additions were made to the JCPenney young men's department, including an
expansion of its private brand Decree (previously exclusively a juniors clothing line) and the
introduction of more skate/surf-oriented clothing, including Rusty, RS by Ryan Sheckler and 3rd
Rail. In August, Albert Gonzalez's defense lawyer announced JCPenney was a victim of a computer
hacker, although the company stated that no customers' credit card information had been
stolen.[34] That year, JCPenney reached an agreement with Seattle's Best Coffee to feature full-
service cafes within leased departments inside JCPenney stores across the country. Seattle's Best
Coffee is still expanding café locations within JCPenney locations across the country.
2010–2014
In 2010, Vornado Realty Trust acquired a 9.9% stake in
JCPenney but sold it in 2013 for $13.00 per share.[35] On
January 24, 2011, JCPenney shut down its catalog business and
19 outlet stores.[36] Seven additional stores and two call centers
also closed.[37]
On February 12, 2011, The New York Times revealed that

JCPenney was using "spamdexing" techniques to manipulate
Google search rankings. Google reduced the company's Exterior of the JCPenney store at
visibility, and JCPenney fired its search engine consultant.[38] the Stonebriar Centre in Frisco,
Texas (2013)
In June 2011, Ron Johnson, former head of Apple's retail
division, became JCPenney's CEO.[39] That same year, the
company sold its 15 remaining catalog outlets to SB Capital Group, converting them into JC's 5
Star Outlets.[40]
In December 2011, JCPenney purchased a 16.6% stake in

Martha Stewart Living Omnimedia, intending to create "mini-
Martha Stewart shops" in its stores by 2013.[41]
In early 2012, JCPenney implemented a new pricing strategy,

replacing sales with "Every Day" prices, but saw a 22% sales
decline by mid-year.[42] The company also experienced staff
cuts, laying off 1,600 employees in January and 600 more in
April 2012.[43] Johnson was dismissed in April 2013 and JCPenney headquarters in Plano,
Texas (2014)
replaced by former CEO Mike Ullman.[44]
In late 2013, JCPenney faced challenges in the stock market,

issuing 84 million shares amid declining margins and a return to promotional pricing
strategies.[45]
2015–2019
In January 2015, it was announced that JCPenney would close 39 under-performing stores
nationwide and lay off 2,250 employees.[46] That same year, the company announced that it was
liquidating its The Foundry Big & Tall Supply Co. chain of standalone clothing stores. In January
2016, JCPenney announced plans to relaunch its business of selling major appliances to target a
wave of millennials who are buying first-time homes.[47] In February, JCPenney opened a support
center in Bangalore, India.[48][49]
In January 2017, JCPenney sold its headquarters campus and surrounding land in Plano, Texas, to
Dreien Opportunity Partners as a leaseback sale to maintain operations at the location.[50] The
land has since been broken up and sold and developed. Space inside the headquarters building has
been subleased. Part of this land was sold to where the current Toyota North America headquarters
is now located.[51] In February, JCPenney announced that it would shutter two distribution centers
and up to 140 under-performing stores as it wrestled with disappointing sales. The company also
planned to offer buyouts to roughly 6,000 employees.[52] On March 17, JCPenney released a list of
138 locations that would close by the end of June.[53] By closing stores and distribution facilities,
JCPenney would redirect resources to help expand its store-in-store Sephora boutiques, and add
Nike and Adidas boutiques, similar to what Macy's has done with Finish Line, Lids and
LensCrafters.[54]
In an effort to capitalize on self-deprecating humor and improve its reputation, JCPenney

collaborated with Nicole Richie and other designers to open a "Jacques Penne" pop-up shop in
Manhattan during the 2017 holiday season.[55][56]
In 2018, the JCPenney at Plaza Palma Real in Humacao, Puerto Rico closed permanently, after
Hurricane Maria devastated the store in September 2017.[57] In May, JCPenney reported an
adjusted loss of $69 million in the first quarter, even worse than Wall Street predicted, and
lowered its projections for the year.[58] Sales fell 4%, also missing estimates. Earlier in 2018, the
company announced it would cut 360 jobs at its stores and corporate headquarters. The company
lowered its earnings forecast for the year to 13 cents per share at best, and said it could lose as
much as 7 cents. JCPenney finished the quarter with just $181 million in cash, down from
$363 million a year ago. Much of the big decrease was because of a $190 billion debt replace. On
May 22, JCPenney announced the resignation of their CEO, Marvin Ellison.[58] On October 2,
JCPenney announced former Jo-Ann Stores CEO Jill Soltau as their CEO, effective October 15.
With the announcement, JCPenney's shares rose 9%.[59] The

company ranked 235 on the Fortune 500 list of the largest
United States corporations by revenue.[60][61] She has also
brought new talent and has cleaned out inventory.[62] On
December 26, the stock price of JCPenney (NYSE: JCP) fell
below $1 per share. This was the first time shares fell below $1
ever in the 110-year history of the company, which started
trading on the New York Stock Exchange in 1929. The stock fell
68% over the course of 2018, including a 30% drop in Mall entrance of the JCPenney store
December 2018 alone.[63] at the Deptford Mall in Deptford
Township, New Jersey, 2018
On February 6, 2019, JCPenney said it would stop selling major
appliances on February 28, and that furniture would be limited
to online and stores in Puerto Rico.[64] On February 28, JCPenney announced its intent to close 27
stores in 2019, including 18 full-line department stores and nine home-and-furniture stores. The
closure announcement was paired with news that the retailer had suffered a 4% decline in same-
store sales during the 2018 holiday quarter.[65] On March 26, JCPenney announced the hiring of
Bill Wofford as chief financial officer. Wofford came to the company from The Vitamin Shoppe,
where he had served as CFO since June 2018.[66] On May 21, JCPenney announced that Shawn
Gensch would be the chief customer officer, to take effect on June 3. Gensch comes from Sprouts
Farmers Market where he was their CCO.[67] Also on May 21, JCPenney announced a net sales
decline of 5.6% and a net loss of $154 million for its fiscal first quarter of 2019, which ended on
May 5.[68]
COVID and bankruptcy: 2020

On January 19, 2020, JCPenney announced plans to close six stores.[69]
COVID-19 pandemic
On March 15, 2020, when businesses were ordered to temporarily close in many states, the chain
closed all of its stores and furloughed its employees. JCPenney became the fourth major national
retailer to file for bankruptcy in May 2020.[70][71] Days earlier, it was reported in a regulatory filing
that JCPenney would give bonuses totaling nearly $10 million to the company's senior managers,
which included $4.5 million to CEO Jill Soltau.[72] After 91 years, it was delisted from the New
York Stock Exchange on May 18, 2020, and started trading over-the-counter the following
business day.[73]
On March 18, JCPenney announced all retail stores would temporarily close in response to the
global COVID-19 pandemic until April 2. On March 31, JCPenney announced an extension of the
planned April 2 reopening, with a new date not possible to be determined at the time. On May 1,
JCPenney announced a limited number of stores would reopen.[74]
Bankruptcy and new ownership

On May 15, 2020, JCPenney filed for Chapter 11 bankruptcy and announced that there would be an
additional 242 store closings, blaming the COVID-19 pandemic for its action. By June 17,
JCPenney reopened approximately 827 stores; most of the 154 scheduled for permanent closure in
2020 were among those reopened, with final closing sales in progress. On June 22, JCPenney
identified an additional 13 stores that would be permanently closed.[75] On July 7, 2020, JCPenney
announced that they would close two stores in New York City; one at the Manhattan Mall, which
was closed immediately and the Kings Plaza store in Brooklyn, which closed on Sunday, September
27, 2020.[76] On December 17, 2020, JCPenney announced that they would close 15 additional
stores in March 2021.[77][78] As of June 2021, there have been a total of 175 store closures. On
December 30, 2020, it was announced that Jill Soltau would step down as CEO of JCPenney,
effective December 31, 2020. It is unclear whether she was fired or resigned.[79] On January 1,
2021, Soltau was replaced by Simon Property's chief investment officer, Stanley Shashoua.[80]
On June 4, 2020, JCPenney released a list of 148 stores slated to close starting in late June 2020,
with eleven additional store closures announced on June 22 and two additional stores on July 7,
with the previously announced store closing locations remaining on hold pending further review,
for a planned closing a total of 242 stores.[81][82][83][84][85] Since the initial filing, rumors of
potential buyers included Amazon, Sycamore Partners, and a group consisting of Authentic Brands
(Forever 21, Aeropostale, Barneys), and mall owners Simon Property Group and Brookfield
Properties.[86][87][88] On July 8, JCPenney submitted their bankruptcy exit plan to existing
lenders, and also requested more time for negotiations.[89] On July 31, 2020, it was announced
that 21 stores, including the "Mother Store" in Kemmerer, Wyoming, would be auctioned off as
part of the proceedings.[90]
On September 9, 2020, Brookfield Property Partners and

Simon Property Group agreed to purchase JCPenney for about
$800 million, including $300 million in cash and assuming
$500 million of debt,[91] which was later approved by the court
on November 10, 2020.[5] It had been established that once the
company emerges from bankruptcy it is poised to save nearly
60,000 jobs, according to various independent studies.[92] The
company was paying $2.45 million in monthly rent at the time
it sold its headquarters offices in Plano, Texas in 2017; the A former Sephora inside the now-
location was permanently vacated in November 2020.[93][94] closed JCPenney at Pittsburgh Mills
in Tarentum, Pennsylvania.
Under Simon and Brookfield: 2020–present

In October 2021, the company opened 10 new shop-in-shop locations across the US, featuring a
wide variety of brands, including indie and BIPOC brands, including flagship partner Thirteen
Lune.[95] Marc Rosen became CEO in 2021.
In April 2022, JCPenney's owners—Simon and Brookfield—offered $8.6 billion to purchase

Kohl's.[96] Sephora had already announced plans to contract exclusively with Kohl's by 2023, and
had piloted Sephora Inside Kohls at select store locations. With this deal, Sephora would remain
affiliated with, and under control of, the Simon and Brookfield retail portfolio, therefore
superseding and annulling previous agreements for Sephora to leave JCPenney in favor of
Kohl's.[97]
The company returned to its Plano, Texas, headquarters in July 2023.[1][98] The reopened
headquarters contains over 2,000 workers and occupies three floors.[99]
Finances
Revenue Net income Total assets

Year Employees Stores
in mil. US$ in mil. US$ in mil. US$
2005 18,096 512 14,127 151,000 1,079

2006 18,781 1,088 12,461 151,000 1,019
2007 19,903 1,153 12,673 155,000 1,033
2008 19,860 1,111 14,309 155,000 1,067

2009 18,486 572 12,011 147,000 1,093
2010 17,556 251 12,581 154,000 1,108

2011 17,759 389 13,068 156,000 1,106
2012 17,260 −152 11,424 159,000 1,102
2013 12,985 −985 9,781 116,000 1,104

2014 11,859 −1,278 11,801 117,000 1,094
2015 12,257 −717 10,309 114,000 1,062
2016 12,625 −513 9,442 105,000 1,021

2017 12,547 1 9,118 106,000 1,013
2018 12,505 −116 8,413 98,000 872
Source:[100]
Corporate identity
In June 2008, an ad called "Speed Dressing" emerged ending with the JCPenney logo and slogan
"Every Day Matters". The ad won a prize at the Cannes Lions International Advertising Festival.
The ad was criticized for seeming to promote teen sex. JCPenney denied that the ad was theirs and
their advertising agency Saatchi & Saatchi reported that it had been created by a third-party
vendor. It was entered in the competition by Epoch Films, who declined to comment.[101][102]
Marketing expert John Tantillo advised that the company distance itself from the commercial and
also shed the publicity it engendered.[103]
Logo
Penney's logo used JCPenney logo,[104] JCPenney box logo Alternate JCPenney
from 1963 to 1971 originally used from 2000–2005 logo used on a few
but still on stores until 1971 to 2011, again stores, used from
the 1980s. from 2013 to 2019, 2011 until 2012.
and again starting in
2023.
JCPenney logo used JCPenney logo used

from 2012 to from November 1,
2013[105] 2019, to 2023.
Private brands
Beginning with the Marathon Hats line, JCPenney has introduced multiple private brands,
partially in response to suppliers denying access to expected inventories.[106][107]
St. John's Bay, casual clothing and shoes for men and women, including Big & Tall (men) and
Plus (women)
St. John's Bay Outdoor, men's outdoor apparel
The Original Arizona Jean Company, casual clothing and sandals for men, women, and
children, including Big & Tall
Xersion, active and athletic clothing for men, women and children
Worthington, women's formal and casual clothing and shoes
a.n.a, young women's urban clothing and shoes
Ambrielle, women's sleepwear, intimates, and swim
Liz Claiborne, women's apparel[108]
Ryegrass, stylish women's fashion
Stafford, men's tailored/fitted clothing and shoes
J. Ferrar, men's full line of slim-fitting clothing, including Big & Tall
Collection by Michael Strahan, men's suits, ties, and cuff links
Claiborne (discontinued), men's apparel
Mutual Weave, men's denim and casual outerwear
Marilyn Monroe, women's vintage collection
Foundry Supply Co. (discontinued solo stores, brand moved to JCPenney stores), men's Big &
Tall apparel, superseded by SJB and Arizona.
ThereAbouts, casual wear for boys and girls
Okie Dokie, newborn and toddler apparel
JCPenney Home, home goods
Linden Street, bedding
Cooks, cookware
Home Expressions, home goods
North Pole Trading Co, Christmas decor & bedding
Marathon Hats (the first JCP private brand)
Loom + Forge, modern home decor, bedding, and window
Former subsidiaries
Eckerd Pharmacy – a chain of pharmacies that JCPenney sold off in 2004, with former
locations becoming CVS or Rite Aid.
The Treasury / Treasure Island – a chain of discount stores that JCPenney closed in the 80s
Treasury drug stores – a chain of stand alone drug stores that were also branded with the
Treasury nameplate. Treasury Drug stores became Eckerd which JCPenney also owned.
JCPenney Insurance[109] – JCPenney Casualty Insurance (also referred to as Penney-Wise
Protection) was sold to Metropolitan Life Insurance Company in 1989.[110]
Auto Centers – JCPenney had Auto Centers during the 1970s and 1980s. Some JCPenney
Auto Centers had gas stations.[111] JCPenney closed the auto centers by the 1990s.
JCPenney Home Stores – stores that sold linens & home decor
JCPenney Outlet / JC's 5 Star Outlet – JCPenney Outlet Stores were stores that sold
JCPenney's merchandise at a lower outlet store price. JC's 5 Star Outlet was a "lower rank"
outlet store. All of the outlet stores were closed by 2011.
JCPenney furniture outlet – JCPenney outlet stores that only sold furniture and rugs.
JCPenney Restaurants[112] – some stores had JCPenney branded restaurants
Penncraft Tools – a short-lived line of tools intended to compete with Sears Craftsman, with
hand tools manufactured by New Britain and power tools and drill bits manufactured by
Stanley.
Locations listed on the National Register of Historic

Places
JCPenney locations that are listed on the National Register of Historic Places (NRHP):
J. C. Penney–Chicago Store Building (Tucson, Arizona)

J. C. Penney Company Building (Shoshone, Idaho)
J. C. Penney Co. Warehouse Building (St. Louis, Missouri)
J. C. Penney Building (Newberg, Oregon)
J. C. Penney Historic District, Kemmerer, Wyoming, a National Historic Landmark District
J. C. Penney House, Kemmerer, Wyoming
See also
Retail apocalypse
Companies portal
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External links
Official website (https://www.jcpenney.com)
Historical business data for JCPenney: · SEC filings (https://www.sec.gov/cgi-bin/browse-edga
r?action=getcompany&CIK=77182)
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12/14/24, 4:17 AM JCPenney - Wikipedia

Most JCPenney stores were initially located in

20th century Key people Ronald Tysoe (chairman)

dry goods stores called Golden Rule stores in Management

In 1913, the company was incorporated under the new name, J.

Full-line department store

In 1962, J. C. Penney entered discount merchandising with the

In 1969, the company acquired Thrift Drug, a chain of

Former Downtown Seattle store in

Death of J.C. Penney and peak: 1970s

Acquisitions and international expansion: 1990s

because they were part of a group of stores that were divested

rebranded five of the stores as Dorian's and the other one as

In February 2008, the company launched the American Living

On February 12, 2011, The New York Times revealed that

In December 2011, JCPenney purchased a 16.6% stake in

In early 2012, JCPenney implemented a new pricing strategy,

In late 2013, JCPenney faced challenges in the stock market,

In an effort to capitalize on self-deprecating humor and improve its reputation, JCPenney

With the announcement, JCPenney's shares rose 9%.[59] The

COVID and bankruptcy: 2020

Bankruptcy and new ownership

On September 9, 2020, Brookfield Property Partners and

Under Simon and Brookfield: 2020–present

In April 2022, JCPenney's owners—Simon and Brookfield—offered $8.6 billion to purchase

Revenue Net income Total assets

2005 18,096 512 14,127 151,000 1,079

2007 19,903 1,153 12,673 155,000 1,033

2008 19,860 1,111 14,309 155,000 1,067

2010 17,556 251 12,581 154,000 1,108

2012 17,260 −152 11,424 159,000 1,102

2013 12,985 −985 9,781 116,000 1,104

2015 12,257 −717 10,309 114,000 1,062

2016 12,625 −513 9,442 105,000 1,021

2018 12,505 −116 8,413 98,000 872

JCPenney logo used JCPenney logo used

Locations listed on the National Register of Historic

J. C. Penney–Chicago Store Building (Tucson, Arizona)

J. C. Penney House, Kemmerer, Wyoming

Retrieved from "https://en.wikipedia.org/w/index.php?title=JCPenney&oldid=1260226602"

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