JCPenney

This article is about the department store chain. For its founder, see James Cash Penney. For the retail chain branded as Penneys in the Republic of Ireland, see Primark.

Penney OpCo LLC
JCPenney
FormerlyJ. C. Penney Company, Inc.
Company typeJoint venture
  • NYSE: JCP (1927–2020)
IndustryRetail
FoundedApril 14, 1902; 122 years ago (1902-04-14)
Kemmerer, Wyoming, U.S. (J. C. Penney Company)
Founders
HeadquartersPlano, Texas[1],
U.S.
Number of locations
659[2]
Area served
United States (excluding Hawaii)
Key people
Products
  • Apparel
  • footwear
  • accessories
  • jewelry
  • beauty products
  • home furnishings
  • electronics
  • toys
  • hair styling
  • portraits
OwnersSimon Property Group, Brookfield Asset Management
Websitejcpenney.com

Penney OpCo LLC, doing business as JCPenney and often abbreviated JCP, is an American department store chain that operates 659 stores across 49 U.S. states and Puerto Rico.[3][4] 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, Brookfield Asset Management and Simon Property Group agreed to purchase the company for around $800 million in cash and debt in September, 2020. The deal was approved by the U.S. bankruptcy court for the Southern District of Texas two months later.[5]

  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. ^ "JCPenney Department Store Locations, Directions & Hours". jcpenney.com.
  4. ^ "JCPenney closing more stores after bankruptcy. Will your store shutter? See the closure list". USA Today.
  5. ^ "J.C. Penney's sale approved by bankruptcy court". MarketWatch. Associated Press. Retrieved November 11, 2020.