JCPenney

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. 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.

Penney OpCo LLC
Trade name
JCPenney
FormerlyJ. C. Penney Company, Inc.
Company typeJoint venture
Traded as
  • 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,
U.S.
Number of locations
663
Area served
United States (excluding Hawaii)
Key people
  • Ronald Tysoe (chairman)
  • Marc Rosen (CEO)
  • Michelle Wlazlo (EVP)
  • Shawn Gensch (CCO)
Products
  • Apparel
  • Beauty products
  • Electronics
  • Home furnishings
  • Appliances
  • Toys
Revenue US$11.167 billion (2019)
−US$8 million (2019)
Net income
−US$268 million (2019)
Total assets US$5.900 billion (2021)
Total equity US$829 million (2019)
OwnersSimon Property Group, Brookfield Asset Management
Number of employees
60,000 (Aug. 2021)
Websitejcpenney.com
Footnotes / references

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.

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