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.

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.

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

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.

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 May 2020, JCPenney filed for Chapter 11 bankruptcy. Unsurprisingly, the move resulted in the company closing many stores, including here in the Bay Area.

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.

Such has been the case for J.C. Penney, which has been on the brink of death for approximately a decade and recently re-emerged from bankruptcy in late 2020. Three years later, it revealed an ambitious $1 billion comeback plan, promising store remodels, upgraded technology, and improved operations by 2025.

How many JCPenney are left in the United States? ›

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.

Shares in JC Penney rose 11 percent today after legendary investor George Soros disclosed his 7.9 percent stake in the company. Soros now owns 17.4 million shares of a retail business that commentators have called everything from "truly depressing" to "an unmitigated disaster."

His parents had instilled in him a basic Christian faith that had given him the principles on which he had based his life and his business, yet now that faith was being tested.

JCPenney has around 670 stores today and has little debt for the first time in years. The company is owned by mall landlords Simon Property Group (SPG) and Brookfield Asset Management (BAM). The two firms rescued JCPenney out of bankruptcy for $1.75 billion in the fall of 2020. It was their interest to do so.

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 ...

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.