Corporate Information | JCPenney Newsroom (2024)

FAQs

Who owns JCPenney now? ›

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.

JCPenney proudly serves customers at more than 650+ stores across the United States and Puerto Rico, and at the Company's flagship store, jcp.com.

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.

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.

Shaq owns part of The General, Gold Bond, Icy Hot, Buick, Marilyn Monroe, Elvis Presley, Forever 21, JCPenney, and more. Shaq is an investor, board member, and strategic advisor for several companies. He has served on the board of directors for Papa John's, a pizza chain, and Carnival Cruise Line.

After hearing the hymn "God Will Take Care of You", written by Civilla D. Martin, sung at a service in the hospital's chapel, he became a born again Christian.

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.

Under Simon and Brookfield: 2020–present

In April 2022, JCPenney's owners—Simon and Brookfield—offered $8.6 billion to purchase Kohl's.

Plano, TX

JCPenney / Headquarters

What is the meaning of the name JCPenney? ›

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

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.

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.

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.

In addition, Shaquille O'Neal is the second-largest individual shareholder of Authentic Brands Group, making him one of the owners of Forever 21, Barneys New York, JCPenney, Reebok, Vince and Hunter Boots. ABG is led by CEO Jamie Salter.

Macy's is a publicly traded company, beholden to stakeholders including investors, employees and customers; J.C. Penney has been private since being purchased out of bankruptcy four years ago by Simon Property Group and Brookfield Asset Management; since then, brand management firm Authentic Brands Group has acquired ...

Forever 21 is one of several brands owned by Authentic Brands, which is in a 50-50 partnership with Simon called Sparc Group.

Privatization is once again the talk of retail. Already, national retailers that are among the biggest sellers of home furnishings products are privately owned, including At Home, JCPenney, Belk, Hudson's Bay and Neiman Marcus. The reasons behind the shift are many.