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.

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.

In an effort to look good on paper again, JCPenney is bringing back its popular print catalog after halting the hefty publication five years ago to focus on online efforts. Yet the decision to drop this much-loved mailer led to a major drop in sales.

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.

Two years later, Penney married his third wife, Caroline B. Autenreith. Together they had two daughters, Mary Frances and Caroline Marie. Their marriage lasted until his death.

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. While he may sell a hefty million shoes per month, O'Neal is no stranger to using the fortune he's amassed to help others.

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

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.

Where is the oldest JCPenney store? ›

The J. C. Penney Historic District is a historic district in Kemmerer, Wyoming, encompassing several properties associated with James Cash Penney (1875-1971). The district includes the Golden Rule Store, the first in what became the J. C. Penney department store chain, and Penney's home during the store's early years.

In May of 2020, soon after the Covid-19 pandemic began and JCPenney was forced to close stores temporarily, the company filed for bankruptcy after 118 years in business. At the time, JCPenney had more than 800 stores and 85,000 employees.

Overall, Macy's offered more high-end items (look, a LensCrafters) and a more attractive and pleasant shopping experience, but the cost for merchandise — even on sale — was too much.

With age, comes wisdom, sometimes. Macy's Inc. (M) is the older sister (159 years) to J.C. Penney Co.

All four closing JCPenney locations are staples in the malls in which they are housed. Three will close sometime before September 22, 2024, with a fourth shutting its doors on an undetermined date in 2025, according to what a spokesperson for JCPenney told Retail Dive.

JCPenney was founded in 1902 with one simple rule – to treat others as we would like to be treated. The Golden Rule was the name of our first store in Kemmerer, Wyoming, and it set the standard by which we have operated for more than 119 years.

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

Longmont History: J.C. Penney Gets His Start

James Cash “J.C.” Penney came to Denver in 1897, leaving his hometown of Hamilton, Missouri on his doctor's advice to take advantage of the dry air. Missing the small-town charm of Hamilton, he shortly made his way north to Longmont.