Corporate Information | JCPenney Newsroom (2025)

FAQs

Who owns JCPenney? ›

On September 9, 2020, Brookfield Property Partners and Simon Property Group agreed to purchase JCPenney for about $800 million, including $300 million in cash and assuming $500 million of debt, which was later approved by the court on November 10, 2020.

But the company's mid-market appeal was tested by growing competition during the 1980s and 1990s. Discount stores including Walmart and Target spread, stealing away JCPenney's budget-conscious customers.

JCPenney's reinvestment strategy includes enhancing its digital capabilities, in-store physical and technology upgrades, and supply chain optimization. Since last August, the company has also announced more than 100 store upgrades and its refreshed Rewards and Credit program.

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.

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.

About Sephora

The company is owned by Louis Vuitton Moet Hennessy (LVMH), the world's leading luxury goods group. Sephora operates approximately 1,300 stores in 27 countries worldwide, including over 300 stores across North America.

Today, we operate more than 650+ locations across the United States and Puerto Rico – and while fashion and shopping patterns have evolved, our focus on putting customers at the heart of what we do remains unchanged.

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.

By 2020, it had racked up $5 billion in debt, and it filed for bankruptcy in May. JCPenney was rescued from bankruptcy that same year after Simon Property Group and Brookfield Property Partners acquired the company for $800 million.

SWOT Analysis of J. C. Penney: Strengths: Established brand, wide range of products, strong customer loyalty. Weaknesses: Declining sales, high competition, struggling financial position.

Will JCPenney stay in business? ›

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.

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.

Department Store Chain Owners Simon, Brookfield Approve Renovations to 664 Stores. Department store chain J.C. Penney plans to make its biggest reinvestment since exiting bankruptcy nearly three years ago with plans to spend $1 billion over the next few years to upgrade its real estate portfolio and woo more customers.

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 ...

JCPenney, which operates 650 stores across the U.S., now sells an assortment of tops, bottoms, and dresses across the Forever 21 catalogue in JCPenney 100 stores and on its website. (Both JCPenney and Forever 21 are owned by Authentic Brands Group via its venture group SPARC.)

Yet, beyond the slam dunks and championships, there lies another side to Shaq. He is an astute businessman. His journey into the business world began in 2015, a path that would lead him to become the second-largest individual shareholder of Authentic Brands Group (ABG).

J.C. Penney (born Sept. 16, 1875, Hamilton, Mo., U.S.—died Feb. 12, 1971, New York, N.Y.) was a merchant who established one of the largest chains of department stores in the United States.