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JCPenney

This article is about the department store chain. For its founder, see James Cash Penney. For the Irish retail chain branded Penneys, see Primark.

Penney OpCo LLC
JCPenney
FormerlyJ. C. Penney Company, Inc.
Company typeJoint venture
  • NYSE: JCP (1927–2020)
  • OTC Pink: JCPNQ (May 2020–January 2021)
  • OTC Pink: CPPRQ (as Old COPPER Company, Inc, January–February 2021)
IndustryRetail
FoundedApril 14, 1902 (1902-04-14)
Kemmerer, Wyoming, U.S. (J. C. Penney Company)
Founders
HeadquartersPlano, Texas[1],
U.S.
Number of locations
663[2]
Area served
United States (excluding Hawaii)
Key people
Products
  • Apparel
  • Beauty products
  • Electronics
  • Home furnishings
  • Appliances
  • Toys
RevenueDecrease US$11.167 billion (2019)
Decrease −US$8 million (2019)
Decrease −US$268 million (2019)
Total assetsDecrease US$5.900 billion (2021)
Total equityDecrease US$829 million (2019)
OwnersSimon Property Group, Brookfield Asset Management
Number of employees
60,000 (Aug. 2021)[3][4]
Websitejcpenney.com
Footnotes / references
[5][6][7][8]

Penney OpCo LLC, doing business as JCPenney and often abbreviated JCP, is an American department store chain that operates 663 stores across 49 U.S. states and Puerto Rico.[9][10] 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 popularity during the 1960s, the chain began relocating and developing stores to anchor the malls. In recent years, JCP has opened stores in power centers, as well as stand-alone stores, sometimes adjacent to competitors. The company has been an Internet retailer since 1998, and it has streamlined its catalog and distribution while undergoing renovation improvements at store level.

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.[11]

  1. ^ Halkias, Maria (May 13, 2022). "J.C. Penney is moving back into its former Plano headquarters". The Dallas Morning News.
  2. ^ JCPenney Store Locator
  3. ^ "J.C. Penney | 2020 Fortune 500". Fortune.
  4. ^ "Symbol Lookup from Yahoo Finance". finance.yahoo.com.
  5. ^ "2010 Form 10-K, J. C. Penney Company, Inc". Securities and Exchange Commission. March 29, 2011. Archived from the original on February 10, 2012. Retrieved April 4, 2011.
  6. ^ Moin, David (August 8, 2013). "Boardroom Battle at J.C. Penney Over CEO". WWD. Archived from the original on August 11, 2013. Retrieved August 9, 2013.
  7. ^ "J. C. Penney 2011 Annual Report, Form 10-K, Filing Date March 28, 2012" (PDF). secdatabase.com. Archived (PDF) from the original on May 25, 2013. Retrieved June 30, 2012.
  8. ^ "SEC: 2019 Form 10-K J. C. Penney Company, Inc". Securities and Exchange Commission. March 20, 2020. Retrieved September 10, 2020.
  9. ^ "JCPenney Department Store Locations, Directions & Hours". jcpenney.com.
  10. ^ "JCPenney closing more stores after bankruptcy. Will your store shutter? See the closure list". USA Today.
  11. ^ "J.C. Penney's sale approved by bankruptcy court". MarketWatch. Associated Press. Retrieved November 11, 2020.