Corporate Information | JCPenney Newsroom (2024)

FAQs

Where did JC Penneys come from? ›

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.

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.

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.

JCPenney has struggled with financial issues for years, including declining sales and mounting debt. These financial issues made it difficult for the company to invest in its stores and compete with other retailers.

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.

Today, reports confirm that Shaq is the second-largest individual to own shares in Authentic Brand Group, which owns JCPenney, Forever 21, and, ironically, Reebok.

JCPenney is the latest department store to announce a major turnaround plan. JCPenney says it plans to funnel $1 billion back into the business by fiscal 2025 to redo its website and app, carry out store upgrades and create a new inventory management system.

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 1926, Penney married Caroline Marie Autenrieth (1895–1992). She was badly hurt in 1928 when she fell from a horse at their estate in White Plains. They had two daughters: Mary Frances Penney (b.

Where is Johnny Cash's brother buried at? ›

Jack Cash grave site at Basset Cemetery in Bassett, Arkansas. Johnny was very close to his big brother Jack.

He tithed out of his belief that “a man's duty was to support the church with money in addition to living in a conscientious and upright manner.” But tragedy marked his life.

J.C. Penney's sales have stayed relatively steady since 2021, but profits are declining. Net sales, in billions, and net income or loss, in millions, from the first quarter of 2021 to the third quarter of 2022.

Shaquille O'Neal's diverse portfolio encompasses 155 Five Guys Burgers franchises, 40 24-Hour Fitness franchises, 17 Auntie Annie's Pretzels franchises, 150 car washes, nightclubs in Las Vegas, a shopping center, a movie theater, and his restaurant, Shaquille, in addition to the Big Chicken restaurant chain.

The company filed for bankruptcy reorganization in May 2020 after the pandemic-induced temporary closing of stores put the already struggling retailer deeper in peril. Under new owners — mall companies Simon Property Group Inc. and Brookfield Property Partners LP — JCPenney shuttered nearly a quarter of its 850 stores.

Many are unaware that the department store J.C. Penney was originally the work of a man named, appropriately, James Cash Penney.

James Cash Penney Jr.

(September 16, 1875 – February 12, 1971) was an American businessman and entrepreneur who founded the JCPenney stores in 1902. James Cash Penney Jr. Hamilton, Missouri, U.S.

Simon Property Group and Brookfield Asset Management acquired JCPenney after the 118-year-old retailer filed for Chapter 11 bankruptcy in May 2020.

Penney incorporated his franchise under the name J.C. Penney Stores Company in 1913, and the following year, moved his headquarters to New York City to be closer to the garment district.