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.

Marc Rosen serves as the CEO / President of J. C. Penney.

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.

During the bankruptcy process, JCPenney restructured its debt and closed more than 200 stores. Rosen said JCPenney now has the financial flexibility to invest in upgrading its technology, supply chain and revamping stores under under its new owners. Mall owners Simon and Brookfield bought JCPenney out of bankruptcy.

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.

Unfortunately Penney's wife died of pneumonia in 1910 and left him with his two sons. He did not remarry for almost ten years. Unfortunately, his next wife, Mary Hortense Kimball passed away after only four years of marriage after giving birth to a son and facing medical issues.

What was JCPenney's education? ›

After graduation from Hamilton High School, Penney intended to attend college with hopes of becoming a lawyer. His father's untimely death, however, forced a change in plans, and Penney was forced to work as a store clerk to help support the family.

American

James Cash Penney / Nationality

After five years, JCPenney reintroduces catalog mailings. feature more of a magazine look and feel. The value of direct mail got a huge validation when retailer JCPenney recently announced that it is again betting big on print by relaunching its flagship catalog.

Whether you're looking to capture a special milestone, update your family photo album, or simply create a lasting memory, JCPenney Portraits can help you make it happen. Our professional photographers will guide you through a variety of different poses and looks to create a personalized and memorable experience.

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.

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

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

J.C. Penney Co. In 1917, Penney officially transitioned to using his name for the branding of his stores. He kept many of the design elements the same, just with a different name and an updated store count.