Corporate Information | JCPenney Newsroom (2024)

FAQs

What is the story behind JCPenney? ›

Many are unaware that the department store J.C. Penney was originally the work of a man named, appropriately, James Cash Penney. Penney was raised in Missouri by a father who doubled as a preacher and a farmer. After a career full of turbulence, James became manager of a Golden Rule store in Evanston, Wyoming.

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. Net sales dropped by 10.7% to $1.5 billion, while total revenue fell by 11.1% to $1.6 billion compared to the same period in 2022.

Today, we operate more than 650+ locations across the United States and Puerto Rico – and while fashion and shopping patterns have evolved, our focus on putting customers at the heart of what we do remains unchanged.

J.C. Penney unveils fierce comeback plan

Three years later, it revealed an ambitious $1 billion comeback plan, promising store remodels, upgraded technology, and improved operations by 2025. And in April, J.C. Penney shared one such part of the plan, which focuses on the customer-facing portion of the business.

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.

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.

In late 2020, Simon Property Group (SPG) and Brookfield Asset Management (BAM)—two of the nation's largest property owners—purchased the company for $800 million. At the time of the bankruptcy, JCPenney held $4 billion in debt.

SWOT Analysis of J. C. Penney: Strengths: Established brand, wide range of products, strong customer loyalty. Weaknesses: Declining sales, high competition, struggling financial position.

The very first JC Penney store opened in Kemmerer, WY in 1902, marking the beginning of a retail legacy!

How many JCPenney stores are there in the United States? There are 660 JCPenney stores in the United States as of July 11, 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.

Where is JCPenney's headquarters? ›

Plano, TX

JCPenney / Headquarters

Simon Property made an unsuccessful bid to acquire Kohl's back in April 2022 for $8.6 billion the New York Post reported at the time, citing sources familiar with the talks. The retailer launched new store label brands like Mutual Weave men's clothing and reintroduced some national brands like Adidas.

Holiday and full-year sales fell, and net income plunged. But the CEO of one of the retailer's owners says its ongoing profitability could merit an expansion.

We are notifying you that JCPenney has made the difficult decision to close its stores and furlough (temporary layoff) a portion of our California employees because of the store closures necessitated by the health emergency due to the spread of COVID-19 and local and statewide shelter-in-place orders, which has ...

Primark was founded by Arthur Ryan in 1969 as Penneys, a single shop in Mary St, Dublin, with the goal of bringing affordable clothing to Ireland.

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.

born: Sept. 16, 1875, Hamilton, Mo., U.S.

As one of the nation's largest retailers of apparel, home, jewelry, and beauty merchandise, JCPenney has a portfolio of private and national brands of remarkable quality and exceptional value.