Pennys Department Store Near Me (2024)

FAQs

Is JCP the same as JCPenney? ›

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.

During bankruptcy, JCPenney closed more than 200 stores and restructured its debt. 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.

As one of the nation's largest retailers of apparel, home, jewelry, and beauty merchandise, JCPenney has a portfolio of private and national brands of remarkable quality and exceptional value.

In 1912, there were thirty-four Golden Rule stores with sales surpassing $2 million. The chain name was changed in 1913, becoming the J. C. Penney Company. By 1914, Penney relocated his headquarters to New York City to be closer to the major sources of merchandise.

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. JCPenney is one of the nation's largest retailers of apparel, home, jewelry, and beauty merchandise with a growing portfolio of private and national brands.

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.

The retail powerhouse, led by CEO Jamie Salter and president and CMO Nick Woodhouse, acquired Forever 21 in 2020 after the fashion firm went into bankruptcy in 2019.

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.

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.

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.

Who just bought JCPenney? ›

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.

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

JCPenney Credit Card Review

The JCPenney Credit Card has a $0 annual fee and offers an attractive initial bonus, but its ongoing rewards aren't as valuable. Still, it's worth considering if you have fair credit and you like to shop at JCPenney.

The company was called J.C. Penney Stores Company from 1913 to 1924, when it was reincorporated as J.C. Penney Co. Its present name was adopted in 1968.

Penney's. While the main brand still operates under the name JCPenney, the company introduced a new shopping experience operating under the name Penney's in 2019. Penney's is located near the company's headquarters in Texas and promises to be more than a department store with salons, cafes, and yoga classes.

At a JCPenney store: Bring your order to one of our JCPenney stores. This is the quickest way to return most merchandise and receive a refund or store credit. Some exclusions apply.

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.