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.

The company was unprofitable every year beginning in 2011 and its sales fell each year starting in 2015. 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.

James Cash Penney's original store was called Golden Rule, because he believed people should be treated as he would like to be treated himself. Later, when he opened more stores and incorporated, the name was changed to JCPenney.

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.

The “C” in J.C. Penney stands for “Cash,” the middle name of founder James Cash Penney, but the department store is struggling to generate much in its post-bankruptcy years. As of Oct. 29, the company's cash and cash equivalents had dwindled from $354 million the previous year to $121 million.

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

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.

How many JCPenney are left in the United States? ›

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.

With the exception of certain private brand window coverings, JCPenney does not manufacture any of the products that we sell. For our private brand merchandise, we source from suppliers that operate in or import from over 30 countries.

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.

Like other retailers, J.C. Penney struggled during the onset of the pandemic and filed for Chapter 11 bankruptcy as a public company loaded with debt. J.C. Penney's retail arm was acquired through the bankruptcy court by Brookfield Asset Management and Simon Property Group.

What is JCPenney's return policy? Purchases made in store or at jcp.com are eligible for a return or exchange with a receipt within 60 days of the original purchase date. Refunds will be issued on the original form of payment or JCPenney Gift Card.

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.

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.