JCPenney

JCPenney was founded in 1902 as a group of dry goods stores that James Cash Penney managed as part of the Golden Rule chain and incorporated under his own name in 1913. The stores were initially located in downtown areas but shifted to shopping malls during the 1960s.

The chain struggled in the early 21st century amid the rise of internet retail and the decline of mall traffic, and stay-home measures during the COVID-19 pandemic forced it into Chapter 11 bankruptcy in May 2020. It emerged from bankruptcy under the joint ownership of mall operators Simon Property Group and Brookfield Properties,{{Cite web|agency=Associated Press|title=J.C. Penney's sale approved by bankruptcy court|url=https://www.marketwatch.com/story/j-c-penneys-sale-approved-by-bankruptcy-court-01605058031|access-date=November 11, 2020|website=MarketWatch|language=en-US}} later joined by Authentic Brands Group as a minority owner.Authentic Brands Group, Inc. [https://www.sec.gov/Archives/edgar/data/1666054/000110465921089494/tm2114913-5_s1.htm Form S-1]. July 6, 2021

In January 2025 JCPenney was combined with SPARC Group — Simon and Authentic's portfolio of legacy retail brands — to form Catalyst Brands.

File:Golden Rule store.png

File:Jcpenney-mother-store.jpg, in September 2007]]

File:JCPenney logo.svg

James Cash Penney was born in Hamilton, Missouri. After graduating from high school, Penney worked for a local retailer. He relocated to Colorado at the advice of a doctor, hoping that a better climate would improve his health.{{cite web|title=JC Penney Company History|url=http://www.fundinguniverse.com/company-histories/j-c-penney-company-inc-history/|work=Funding Universe|url-status=live|archive-url=https://web.archive.org/web/20130404102222/http://www.fundinguniverse.com/company-histories/j-c-penney-company-inc-history/|archive-date=April 4, 2013}} In 1898, Penney went to work for Thomas Callahan and Guy Johnson, who owned dry goods stores called Golden Rule stores in Colorado and Wyoming.[http://shs.umsystem.edu/historicmissourians/name/p/penney/ J. C. Penney – Historic Missourians] {{webarchive|url=https://web.archive.org/web/20130817003858/http://shs.umsystem.edu/historicmissourians/name/p/penney/ |date=August 17, 2013 }} Retrieved August 20, 2013. In 1899, Callahan sent Penney to Evanston, Wyoming, to work with Johnson in another Golden Rule store. Callahan and Johnson asked Penney to join them in opening a new Golden Rule store. Using money from savings and a loan, Penney joined the partnership and moved with his wife and infant son to Kemmerer, Wyoming, to start his own store. Penney opened the store on April 14, 1902. He participated in the creation of two more stores and purchased full interest in all three locations when Callahan and Johnson dissolved their partnership in 1907. In 1909, Penney moved his company headquarters to Salt Lake City, Utah, to be closer to banks and railroads. By 1912, Penney had 34 stores in the Rocky Mountain States.

In 1913, the company was incorporated under the new name, J. C. Penney Company, with William Henry McManus as a co-founder. In 1914, the headquarters was moved to New York City to simplify buying, financing, and transportation of goods.[http://www.jcpenney.net/Our-Old-Company/About-jcpenney/Our-History.aspx Our History] {{webarchive|url=https://archive.today/20130502084401/http://www.jcpenney.net/Our-Old-Company/About-jcpenney/Our-History.aspx |date=May 2, 2013 }} J.C. Penney. Retrieved August 20, 2013. By 1917, the company operated 175 stores in 22 states in the United States. J. C. Penney acquired The Crescent Corset Company in 1920, the company's first wholly owned subsidiary. In 1922, the company's oldest active private brand, Big Mac work clothes, was launched. The company opened its 500th store in 1924 in Hamilton, Missouri, James Cash Penney's hometown. By the opening of the 1,000th store in 1928, gross business had reached $190 million (equivalent to ${{formatprice|{{inflation|US|190000000|1928|r=0}}}} in {{CURRENTYEAR}}).

In 1940, Sam Walton began working at a J. C. Penney in Des Moines, Iowa. Walton subsequently founded retailer Walmart in 1962.{{cite book|first=Gross|last=Daniel|author2=Forbes Staff|date=August 1997|title=Greatest Business Stories of All Time|edition=First|publisher=John Wiley & Sons, Inc.|location=New York|page=[https://archive.org/details/isbn_0471196533/page/269 269]|isbn=0-471-19653-3|url=https://archive.org/details/isbn_0471196533/page/269}} By 1941, J. C. Penney operated 1,600 stores in all 48 states. In 1956, J. C. Penney started national advertising with a series of advertisements in Life magazine. J. C. Penney credit cards were first issued in 1959.

File:1964 Alaska Quake Penney Bldg.jpg

File:Downtown Seattle Penney's store in 1982.jpg store in 1982, with signage from the period when the chain was branded as Penneys and used a more stylized font in its logo. Pike Place Market is in the background.]]

The company dedicated its first full-line shopping-center department store in 1961. This store was located at Black Horse Pike Center in Audubon, New Jersey. The second full-line shopping center store was dedicated, at King of Prussia Plaza in King of Prussia, Pennsylvania in late 1962. Those stores expanded the lines of merchandise and services that an average J. C. Penney carried to include appliances, sporting goods, tools, garden\lawn merchandise, restaurants, beauty salons, portrait studios, auto parts, and auto centers.

In 1962, J. C. Penney entered discount merchandising with the acquisition of General Merchandise Company which gave them The Treasury stores. These discount operations proved unsuccessful and were shuttered in 1981. In 1963, J. C. Penney issued its first catalog. The company operated in-store catalog desks in eight states. The catalogs were distributed by the Milwaukee Catalog distribution center.

In 1969, the company acquired Thrift Drug, a chain of drugstores headquartered in Pittsburgh, Pennsylvania. It also acquired Supermarkets Interstate, an Omaha-based food retailer which operated leased departments in J. C. Penney stores, The Treasury stores, and Thrift Drug stores.

In the 1960s, JCPenney expanded to include Alaska, Hawaii, and Puerto Rico. Stores were opened in Anchorage and Fairbanks, Alaska in 1962, followed by Honolulu, Hawaii in 1966, and Puerto Rico in 1968. The Penney Building in Anchorage partially collapsed and was damaged beyond repair in the 1964 Alaska earthquake.{{cite book|last1=Cohen|first1=Stan B.|title=8.6: The Great Alaska Earthquake, March 27, 1964|year=1995|publisher=Pictorial Histories Publishing|location=Missoula|isbn=0-929521-96-X|pages=6–7}}{{cite book|last1=Cole|first1=Dermot|title=North To The Future|year=2008|publisher=Epicenter Press|location=Kenmore|isbn=978-0-9800825-3-1|page=93|chapter=The 1964 Good Friday earthquake|chapter-url=https://archive.org/details/northtofutureala0000cole/page/93}} The company rebuilt the store as a shorter building on a larger footprint and followed up by building Anchorage's first public parking garage, which opened in 1968.Cole, North To The Future, p. 225 The Honolulu store was located at Ala Moana Center, and closed in 2003, along with all remaining locations in the state, making Hawaii the only U.S. state to not currently have a JCPenney store. The Penney store at Plaza Las Américas mall in San Juan, Puerto Rico, which opened in 1968, featured three levels and {{convert|261500|sqft}}. It was the largest JCPenney until a {{convert|300000|sqft|m2|adj=on}} store was dedicated at Greater Chicago's Woodfield Mall in 1971. The Woodfield Mall store served as the largest in the chain until a replacement store opened at Plaza Las Américas in 1998, which is {{convert|350000|sqft}} in size.

On February 12, 1971, James Cash Penney died at the age of 95; the company's stores were closed the morning of his funeral on February 16.[https://www.newspapers.com/image/136676544/?terms=penney%2Bstores%2Bclosed Newspapers.com] {{webarchive|url=https://web.archive.org/web/20161007001204/https://www.newspapers.com/image/136676544/?terms=penney%2Bstores%2Bclosed |date=October 7, 2016 }}. Newspapers.com quotes the Rochester Democrat and Chronicle for Tuesday February 16, 1971, page 5 That year, the company adopted the JCPenney style in advertising.{{cite news |last1=Lisicky |first1=Michael |title=From Its Beginnings To Bankruptcy, A Historical Timeline Of JCPenney |url=https://www.forbes.com/sites/michaellisicky/2020/05/17/from-its-beginnings-to-bankruptcy--a-company-timeline-of--jcpenney/?sh=192856e331de |access-date=18 August 2022 |work=Forbes |date=2020-05-17}} and its revenues reached $5 billion (equivalent to ${{Format price|{{inflation|US|5000000000|1971|r=0}}}} in {{CURRENTYEAR}}) for the first time and catalog business made a profit for the first time.[http://www.fundinguniverse.com/company-histories/JC-Penney-company-Inc-company-History.html J.C. Penney Company – Company History & Profile] {{webarchive|url=https://web.archive.org/web/20120530003150/http://www.fundinguniverse.com/company-histories/JC-Penney-company-Inc-company-History.html |date=May 30, 2012 }}. Funding Universe, Accessed January 27, 2012

JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments. However, the company was hard hit by the 1974 recession with its stock price declining by two-thirds.

In 1977, J. C. Penney sold its four stores in Italy to Italian department store chain La Rinascente; Penneys had opened in Italy in 1970 but left due to difficulties encountered when trying to expand in Italy and had only ever opened stores in the Lombardy region.{{Cite news |date=1977-04-30 |title=Penney Agrees to Sell Its Five Stores In Milan |language=en-US |work=The New York Times |url=https://www.nytimes.com/1977/04/30/archives/penney-agrees-to-sell-its-five-stores-in-milan.html |access-date=2023-03-30 |issn=0362-4331}}{{Cite web |title=laRinascente Archives |url=https://archives.rinascente.it/en/paths/la-rinascente-1865-2017-storia-del-grande-magazzino |access-date=2023-03-30 |website=archives.rinascente.it |language=en}} In the same year they also closed down their unprofitable Supermarkets Interstate supermarket brand, which operated in Treasury discount stores; however, the stores that were not in Treasury locations remained open.{{Cite news |date=1977-07-27 |title=Corporation Affairs |language=en-US |work=The New York Times |url=https://www.nytimes.com/1977/07/27/archives/corporation-affairs-jc-penney-will-discontinue-unprofitable.html |access-date=2023-03-30 |issn=0362-4331}}

In 1978, the J. C. Penney Historic District in Kemmerer, Wyoming, was designated a U.S. National Historic Landmark. In 1979, JCPenney stores started accepting Visa cards. MasterCard was accepted the following year.

In 1980, the company closed the unprofitable Treasury discount stores to focus resources on its core retail stores.

In 1983, JCPenney discontinued its appliance, hardware, outdoor equipment, and auto center departments, and sold its automotive centers to Firestone. Also in 1983, it began selling goods online through the Viewtron videotex service. That same year, fashion designer Roy Halston, signed a six-year, $1 billion deal with JCPenney to sell a line of affordable clothing, accessories, cosmetics, and perfumes ranging in price from $24 to $200. The move was considered controversial then as no other high-end designer up to that point in time had licensed their designs to a mid-price retailer. The line, named Halston III, would not last long, as it would be poorly received and discontinued after about a year. However, the business move paved the way for other such high-end designers to sell their products at stores of varying price ranges in the future.{{cite web|url=http://www.wwd.com/fashion-news/fashion-features/halston-j-c-penney-3068848|title=Halston's Penney's Serenade|last=Hyland|first=Veronique|date=May 12, 2010|publisher=wwd.com|access-date=November 21, 2014}}

In 1984, JCPenney acquired the First National Bank of Harrington, Delaware, and renamed it J. C. Penney National Bank. With the acquisition of the bank, the company became able to issue its own Mastercard and Visa Inc. cards. The company also began accepting American Express cards. Also that year, Thrift Drug began co-locating stores with Weis Markets, and acquired many former Pantry Pride properties. In April 1987, the company announced that it was moving its headquarters to Plano, Texas."[http://nl.newsbank.com/nl-search/we/Archives?p_product=SAEC&p_theme=saec&p_action=search&p_maxdocs=200&p_topdoc=1&p_text_direct-0=0F223124451CF5BF&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D&s_trackval=GooglePM When J.C. Penney Co. Inc. decided to move its headquarters]." San Antonio Express-News. December 17, 1992. 10A. Retrieved on March 5, 2010. After several years of development, the JCPenney Television Shopping Channel appeared on cable systems beginning in 1989.{{Citation needed|date=January 2019}} By the mid-1980s, all JCPenney stores had discontinued sales of firearms. Before this point, JCPenney carried rifles and shotguns branded as JCPenney but produced by numerous established firearms manufacturers. In the 1980s JCPenney's also stopped selling outdoor equipment and hardware such as lawn mowers and tools.

File:JCPenney at Jamestown Mall.jpeg in Florissant, Missouri (1998)]]

Construction on the new company headquarters in Plano, Texas, broke ground in 1990 and was completed in 1992. When Sears closed its catalog business in 1993, JCPenney became the largest catalog retailer in the United States. In 1995 the chain expanded to Chile with a store in the capital, Santiago. In 1995, the drug store business was expanded with the acquisition of Kerr Drug and again in 1996 with the purchase of Fay's Drug.{{Cite news |last=Services |first=Dow Jones News |title=J.C. Penney Will Add Fay's To Thrift Drug Division |url=https://www.wsj.com/articles/SB83933995886346000 |access-date=2023-03-30 |newspaper=The Wall Street Journal |date=August 6, 1996 |language=en-US}}{{Cite news |last=Lee |first=Louise |author2=Neal Templin |author3=Robert Frank |title=J.C. Penney Will Buy Eckerd For $2.5 Billion in Cash, Stock |url=https://www.wsj.com/articles/SB847066429563762000 |access-date=2023-03-30 |newspaper=The Wall Street Journal |date=November 4, 1996 |language=en-US}} Then in November 1996 they acquired the Eckerd chain. Fay's, Kerr, and Eckerd merged into J. C. Penney's drug store subsidiary Thrift Drug. Fay's, most Kerr, and Thrift drug stores were re-branded Eckerd in 1997. (Kerr Drug stores in The Carolinas remained branded as such because they were part of a group of stores that were divested because of trade competition issues raised during the merger.){{cite web|url=http://www.kerrdrug.com/|title=Welcome to Walgreens – Your Home for Prescriptions, Photos and Health Information|url-status=live|archive-url=https://web.archive.org/web/20080913211008/http://kerrdrug.com/|archive-date=September 13, 2008}}

On December 9, 1998, The New York Times reported JCPenney would acquire controlling interest of Lojas Renner for a little over $33 million, which increased the company's maneuvering ability with their already existing units in Chile, Mexico and Puerto Rico.{{Cite news|url=https://www.nytimes.com/1998/12/09/business/company-news-j-c-penney-to-acquire-21-store-brazilian-retail-chain.html|archive-url=https://web.archive.org/web/20190725051727/https://www.nytimes.com/1998/12/09/business/company-news-j-c-penney-to-acquire-21-store-brazilian-retail-chain.html|archive-date=July 25, 2019|title=Company News; J. C. Penney to Acquire 21-Store Brazilian Retail Chain|date=December 9, 1998|work=The New York Times|access-date=July 25, 2019}} In 1998, JCPenney launched its online store.{{Cite web |last=Lisicky |first=Michael |title=From Its Beginnings To Bankruptcy, A Historical Timeline Of JCPenney |url=https://www.forbes.com/sites/michaellisicky/2020/05/17/from-its-beginnings-to-bankruptcy--a-company-timeline-of--jcpenney/ |access-date=2023-03-29 |website=Forbes |language=en}}

Between 1995 and 1998, JCPenney entered Indonesia under partnership with Lippo Group (under their Multipolar investment arm) with the branding JCPenney Collections, also used by multiple international JCPenney branches across Asia during the decade. This type of JCPenney store only featured fashion for men, women and kids. During its tenure, JCPenney opened two flagship stores: in 1995 on the upper ground level of Lippo Supermal (now Supermal Karawaci), and in 1996 on the upper ground and first level of Mal Taman Anggrek. Aside from the two, JCPenney also opened smaller stores under the JCPenney Collections name in a few malls such as Plaza Blok M and Plaza Senayan. All stores of JCPenney Collections in Indonesia started planning to close down due to 1997 Asian financial crisis – with the JCPenney Collections store in Taman Anggrek closed in December 1997, and the May 1998 riots – with the Lippo Supermal store looted by mass and exiting the mall that same month (having to close down for a period of time due to damage caused by arson in other sections of the mall). Currently, the previous stores are occupied by H&M, Uniqlo, and Sogo at Supermal Karawaci and Matahari Department Store at Mal Taman Anggrek respectively.

JCPenney left Chile in 1999, after five years in the country it closed down its home store and sold its main store in Santiago to Almacenes Paris. The stores were closed due to low profitability and high expenses.{{Cite news |last=Reporter |first=a Wall Street Journal Staff |title=J.C. Penney to Leave Chile Store, Take Charge in Third Quarter |url=https://www.wsj.com/articles/SB939238687214599111 |access-date=2023-03-29 |newspaper=The Wall Street Journal |date=October 7, 1999 |language=en-US}}{{Cite web |author=W. W. D. Staff |date=1999-10-07 |title=J.C. PENNEY EXITS CHILE |url=https://wwd.com/feature/article-1076708-1819403/ |access-date=2023-03-29 |website=WWD |language=en-US}}

File:JCPenney - panoramio.jpg in Ontario, Ohio (2008)]]

In early 2001, JCPenney closed 44 under-performing stores. In 2001, JCPenney sold its direct-marketing insurance unit to Dutch insurer Aegon for $1.3 billion (equivalent to ${{formatprice|{{inflation|US|1300000000|2001|r=0}}}} in {{CURRENTYEAR}}) in cash to help refocus the company on retail.{{cite news|title=J.C. Penney OKs Sale of Insurance Unit to Aegon|url=https://www.latimes.com/archives/la-xpm-2001-mar-09-fi-35415-story.html|work=Los Angeles Times |agency=Bloomberg News |date=March 9, 2001|access-date=August 26, 2013|url-status=live|archive-url=http://archive.wikiwix.com/cache/20130827143357/http://articles.latimes.com/2001/mar/09/business/fi-35415|archive-date=August 27, 2013}} In 2003, the company opened three stores in strip centers in Texas, Minnesota, and Indiana. The new single-level, {{convert|94000|sqft|m2|abbr=on|adj=on}} store format focuses on convenience, with wider aisles and centralized checkouts.{{cite news|url=http://www.accessmylibrary.com/article-1G1-110805536/jcpenney-makes-off-mall.html|title=JCPenney makes off-the-mall move: new, smaller test format adds trapping familiar to mass channel|author=bnet.com|date=November 24, 2003|work=DSN Retailing Today|access-date=May 2, 2010|archive-url=https://web.archive.org/web/20130530170949/http://www.accessmylibrary.com/article-1G1-110805536/jcpenney-makes-off-mall.html|archive-date=May 30, 2013|url-status=live}} In 2004, the company added 14 more stores and exited the drug store division after 35 years, with the sale of its Eckerd division.{{Citation needed|date=January 2019}} The company also sold its six Mexico stores to Grupo Carso, which rebranded five of the stores as Dorian's and the other one as Sears Mexico. In 2005, JCPenney's e-commerce storefront exceeded the $1 billion revenue mark for the first time.{{Citation needed|date=January 2019}} At the same time in June, the company would sell off its shares of Lojas Renner, the Brazilian-based retailer, generating $260 million from the sale as it discontinued its operations with Renner and its Latin American footholds as well.{{Cite web|url=https://www.businesswire.com/news/home/20050705005743/en/JCPenney-Closes-Sale-Shares-Lojas-Renner-S.A.|title=JCPenney Closes on the Sale of Shares of Lojas Renner S.A.|date=July 5, 2005|website=www.businesswire.com|language=en|access-date=July 25, 2019}}{{Cite web|url=https://howtoguidex.com/jcpenney-associate-kiosk-login/|title=JCPenney Associate|access-date=December 1, 2022}}

In 2007, JCPenney launched the Ambrielle lingerie label, which became its largest private brand launched in the company's history.{{cite web|url=http://thomson.mobular.net/thomson/7/2411/2642/|title=2006 JCPenney Annual Report|access-date=August 18, 2007|archive-date=January 3, 2018|archive-url=https://web.archive.org/web/20180103211221/http://thomson.mobular.net/thomson/7/2411/2642/|url-status=dead}} JCPenney also re-introduced cosmetics with the opening of Sephora "stores-within-a-store" inside some JCPenney locations. Beginning in 2007, JCPenney's store slogan changed from "It's All Inside" to "Every Day Matters." The new slogan and associated ad campaign was launched in television commercials during the 79th Academy Awards in late February 2007. After JCPenney sold off Eckerd in 2004, the locations that continued to operate as Eckerd (some locations in the Southern U.S. were sold to CVS Corporation) still had JCPenney Catalog Centers inside the stores (which was a carryover from locations that were once Thrift Drug) and continued to accept JCPenney credit cards. After Rite Aid finalized its acquisition of Eckerd in 2007, the Catalog Centers inside the soon-to-be-converted stores permanently closed. Although as a result of the acquisition, Rite Aid now accepts JCPenney credit cards, even at Rite Aid locations that existed before the acquisition of Eckerd. In November 2007, the company launched a new public website, JCPenneyBrands.com, which covers the company's private and exclusive brands and its branding strategy, as well as a preview of an upcoming product line.

File:JCPenney Standalone.jpg, Texas (2009)]]

In February 2008, the company launched the American Living brand, as developed by Ralph Lauren, across several product lines. The launch, which was accompanied by an ad campaign during the 80th Academy Awards, was the company's largest private brand launch.{{cite web|url=http://www.allbusiness.com/services/business-services/3974853-1.html|title=Business Wire Press Release|access-date=November 10, 2007|archive-url=https://web.archive.org/web/20071202033326/http://www.allbusiness.com/services/business-services/3974853-1.html|archive-date=December 2, 2007}} That summer, JCPenney also added a new brand to its home collection, Linden Street. The Linden Street brand features furniture, domestics, and home decor. Linden Street is sold exclusively in JCPenney stores and through its website. Other brands for juniors and young men were launched that summer. They included a relaunch of Le Tigre, along with Decree, and Fabulosity, a junior line of clothing by Kimora Lee Simmons.

In July 2009, new additions were made to the JCPenney young men's department, including an expansion of its private brand Decree (previously exclusively a juniors clothing line) and the introduction of more skate/surf-oriented clothing, including Rusty, RS by Ryan Sheckler and 3rd Rail. In August, Albert Gonzalez's defense lawyer announced JCPenney was a victim of a computer hacker, although the company stated that no customers' credit card information had been stolen.{{cite web|url=http://www.storefrontbacktalk.com/securityfraud/j-c-penney-target-added-to-list-of-gonzalez-retail-victims/ |title=J.C. Penney, Target Added To List Of Gonzalez Retail Victims |work=FierceRetail |url-status=dead |archive-url=https://web.archive.org/web/20120421081522/http://storefrontbacktalk.com/securityfraud/j-c-penney-target-added-to-list-of-gonzalez-retail-victims/ |archive-date=April 21, 2012 }} That year, JCPenney reached an agreement with Seattle's Best Coffee to feature full-service cafes within leased departments inside JCPenney stores across the country.{{Citation needed|date=January 2019}} Seattle's Best Coffee is still expanding café locations within JCPenney locations across the country.{{As of?|date=October 2024}}

File:JCP Frisco Stonebriar.jpg in Frisco, Texas (2013)]]

File:J-C-Penney-4616.jpg (2014)]]

In 2010, Vornado Realty Trust acquired a 9.9% stake in JCPenney but sold it in 2013 for $13.00 per share.{{cite news|url=https://www.reuters.com/article/us-jcpenney-vornado/vornado-sells-entire-j-c-penney-stake-for-13-per-share-idUSBRE98J0YD20130920|title=Vornado sells entire J.C. Penney stake for $13 per share|publisher=Reuters|date=September 20, 2013}} On January 24, 2011, JCPenney shut down its catalog business and 19 outlet stores.{{Cite web |last=Neely |first=Brett |date=January 25, 2011 |title=JC Penney closes catalog business and outlets |url=https://www.npr.org/2011/01/25/133200323/j-c-penney-to-close-catalog-business-outlets |website=NPR}} Seven additional stores and two call centers also closed.{{cite web|url=http://www.foxbusiness.com/markets/2011/01/24/jc-penney-close-stores-exit-catalog-biz/|title=J.C. Penney to Close Stores, Exit Catalog Business|work=Fox Business|url-status=dead|archive-url=https://web.archive.org/web/20110127175814/http://www.foxbusiness.com/markets/2011/01/24/jc-penney-close-stores-exit-catalog-biz/|archive-date=January 27, 2011}}

On February 12, 2011, The New York Times revealed that JCPenney was using "spamdexing" techniques to manipulate Google search rankings. Google reduced the company's visibility, and JCPenney fired its search engine consultant.David Segal, [https://www.nytimes.com/2011/02/13/business/13search.html "The Dirty Little Secrets of Search"] ({{webarchive|url=https://web.archive.org/web/20121008074056/http://www.nytimes.com/2011/02/13/business/13search.html |date=October 8, 2012 }}), The New York Times, February 12, 2011

In June 2011, Ron Johnson, former head of Apple's retail division, became JCPenney's CEO.[http://ir.jcpenney.com/phoenix.zhtml?c=70528&p=irol-newsCompanyArticle&ID=1573712&highlight= "JCPenney announces new CEO."] {{Webarchive|url=https://web.archive.org/web/20150202110529/http://ir.jcpenney.com/phoenix.zhtml?c=70528&p=irol-newsCompanyArticle&ID=1573712&highlight=|date=February 2, 2015}} JCPenney press office. June 2011. That same year, the company sold its 15 remaining catalog outlets to SB Capital Group, converting them into JC's 5 Star Outlets.[http://www.sbcapitalgroup.com/news/item.cfm?id=108 SB Capital press release] {{webarchive|url=https://web.archive.org/web/20120425073212/http://www.sbcapitalgroup.com/news/item.cfm?id=108 |date=April 25, 2012 }}. October 2011

In December 2011, JCPenney purchased a 16.6% stake in Martha Stewart Living Omnimedia, intending to create "mini-Martha Stewart shops" in its stores by 2013.{{cite news|url=http://www2.journalnow.com/business/2011/dec/08/wsbiz01-business-briefs-for-dec-8-ar-1690034/|title=J.C. Penney to offer Martha Stewart shops|work=Winston-Salem Journal|agency=Associated Press|date=December 8, 2011|access-date=December 8, 2011|url-status=dead|archive-url=https://archive.today/20130127100651/http://www2.journalnow.com/business/2011/dec/08/wsbiz01-business-briefs-for-dec-8-ar-1690034/|archive-date=January 27, 2013}}

In early 2012, JCPenney implemented a new pricing strategy, replacing sales with "Every Day" prices, but saw a 22% sales decline by mid-year.[https://www.forbes.com/sites/lauraheller/2012/01/26/why-jcpenney-will-be-the-most-interesting-retailer-of-2012/ Why J.C. Penney Will Be The Most Interesting Retailer Of 2012] {{webarchive|url=https://web.archive.org/web/20170729172109/https://www.forbes.com/sites/lauraheller/2012/01/26/why-jcpenney-will-be-the-most-interesting-retailer-of-2012/ |date=July 29, 2017 }}. Forbes, January 26, 2012 The company also experienced staff cuts, laying off 1,600 employees in January and 600 more in April 2012.{{cite web|last1=Halkias|first1=Maria|title=J.C. Penney lays off 600 at Legacy headquarters in Plano|url=http://bizbeatblog.dallasnews.com/2012/04/jc-penney-layoffs-expected-at.html/|website=dallasnews.com|publisher=Dallas Morning News|access-date=January 20, 2016|date=April 5, 2012|url-status=live|archive-url=https://web.archive.org/web/20160611114819/http://bizbeatblog.dallasnews.com/2012/04/jc-penney-layoffs-expected-at.html/|archive-date=June 11, 2016}} Johnson was dismissed in April 2013 and replaced by former CEO Mike Ullman.{{cite news|title=JCPenney fires Ron Johnson as CEO; hire previous CEO Ullman|url=https://www.nypost.com/p/news/business/ron_john_gone_0uoXPmam5y3tFvzy4Bd59I|access-date=August 14, 2013|newspaper=New York Post|date=April 9, 2013|author=James Covert}}

In late 2013, JCPenney faced challenges in the stock market, issuing 84 million shares amid declining margins and a return to promotional pricing strategies.{{cite news | url=https://www.nytimes.com/2013/09/27/business/jc-penney-to-raise-cash-in-offering-of-its-shares.html?_r=0 | title=J.C. Penney to Raise Cash in Offering of Its Shares | work=The New York Times | date=September 26, 2013 | access-date=October 19, 2013}}

In January 2015, it was announced that JCPenney would close 39 under-performing stores nationwide and lay off 2,250 employees.{{cite news|last=Strauss|first=Gary|title=J.C. Penney, Macy's to shut stores, lay off scores|work=USA Today|date=January 8, 2015|url=https://www.usatoday.com/story/money/business/2015/01/08/jc-penney-to-shutter-40-stores-lay-off-hundreds/21448085/|access-date=January 9, 2015|url-status=live|archive-url=https://web.archive.org/web/20150108230432/http://www.usatoday.com/story/money/business/2015/01/08/jc-penney-to-shutter-40-stores-lay-off-hundreds/21448085/|archive-date=January 8, 2015}} That same year, the company announced that it was liquidating its The Foundry Big & Tall Supply Co. chain of standalone clothing stores. In January 2016, JCPenney announced plans to relaunch its business of selling major appliances to target a wave of millennials who are buying first-time homes.{{cite web|url=http://www.marketwatch.com/story/jc-penney-targets-millennials-with-a-return-to-the-appliance-business-2016-01-19?link=MW_latest_news|title=J.C. Penney targets millennials with a return to the appliance business|first=Tonya|last=Garcia|access-date=March 2, 2017|url-status=live|archive-url=https://web.archive.org/web/20170702082406/http://www.marketwatch.com/story/jc-penney-targets-millennials-with-a-return-to-the-appliance-business-2016-01-19?link=MW_latest_news|archive-date=July 2, 2017}} In February, JCPenney opened a support center in Bangalore, India.{{cite news|url=http://www.business-standard.com/article/companies/jc-penney-takes-on-lease-130-000-sq-ft-in-bengaluru-116020400045_1.html|title=JC Penney takes on lease 130,000 sq ft in Bengaluru|first=Raghavendra|last=Kamath|newspaper=Business Standard India|date=February 4, 2016|via=Business Standard|url-status=live|archive-url=https://web.archive.org/web/20170829122050/http://www.business-standard.com/article/companies/jc-penney-takes-on-lease-130-000-sq-ft-in-bengaluru-116020400045_1.html|archive-date=August 29, 2017}}{{cite web|url=https://books.google.com/books?id=9FkeKsyAnt8C&q=narayana+bank+one+corporation&pg=RA5-PA2|title=Senate Reports|first=United States|last=Congress|date=August 29, 2017|publisher=Government Printing Office|via=Google Books}}

In January 2017, JCPenney sold its headquarters campus and surrounding land in Plano, Texas, to Dreien Opportunity Partners as a leaseback sale to maintain operations at the location.{{cite web|url=https://fortune.com/2017/01/03/jcpenney-headquarters-debt/ |last=Wahba |first=Phil |date=January 3, 2017 |title=J.C. Penney Is Selling Its Headquarters for $353 Million |work=Fortune|access-date=August 15, 2019}} The land has since been broken up and sold and developed. Space inside the headquarters building has been subleased. Part of this land was sold to where the current Toyota North America headquarters is now located.{{Cite web|url=https://fortune.com/2017/01/03/jcpenney-headquarters-debt/|title = J.C. Penney is Selling Its Headquarters for $353 Million}} In February, JCPenney announced that it would shutter two distribution centers and up to 140 under-performing stores as it wrestled with disappointing sales. The company also planned to offer buyouts to roughly 6,000 employees.{{cite news|last=Allocca|first=Sean|title=JC Penney Closing 140 Stores in Early 2017|work=CFO|publisher=Argle|access-date=March 14, 2017|url=http://ww2.cfo.com/budgeting/2017/02/jc-penney-closing-140-stores/|url-status=live|archive-url=https://web.archive.org/web/20170315001005/http://ww2.cfo.com/budgeting/2017/02/jc-penney-closing-140-stores/|archive-date=March 15, 2017}} On March 17, JCPenney released a list of 138 locations that would close by the end of June.[http://www.jcpnewsroom.com/news-releases/2017/assets/0317_list_of_store_closures.pdf List of store closures (PDF)] {{webarchive|url=https://web.archive.org/web/20170317190410/http://www.jcpnewsroom.com/news-releases/2017/assets/0317_list_of_store_closures.pdf |date=March 17, 2017 }} March 17, 2017 By closing stores and distribution facilities, JCPenney would redirect resources to help expand its store-in-store Sephora boutiques, and add Nike and Adidas boutiques, similar to what Macy's has done with Finish Line, Lids and LensCrafters.Phil Wahba, [https://fortune.com/2017/03/17/jcpenney-stores-closing/ J.C. Penney Is Closing These 138 Stores This Spring] {{webarchive|url=https://web.archive.org/web/20171215110629/http://fortune.com/2017/03/17/jcpenney-stores-closing/ |date=December 15, 2017 }}, Fortune magazine, March 17, 2017

In an effort to capitalize on self-deprecating humor and improve its reputation, JCPenney collaborated with Nicole Richie and other designers to open a "Jacques Penne" pop-up shop in Manhattan during the 2017 holiday season.{{cite web|last1=Chan|first1=Stephanie|title=J.C. Penney Opening 'Jacques Penne' Pop-Up Shop|url=https://www.hollywoodreporter.com/news/jc-penney-opening-jacques-penne-pop-up-shop-1064040|website=Hollywood Reporter|date=December 4, 2017|url-status=live|archive-url=https://web.archive.org/web/20180214073431/https://www.hollywoodreporter.com/news/jc-penney-opening-jacques-penne-pop-up-shop-1064040|archive-date=February 14, 2018}}{{cite web|last1=Lodi|first1=Marie|title=Nicole Richie tells us her beauty resolution for 2018 and the products on her holiday wish list|url=https://hellogiggles.com/beauty/nicole-richie-interview-beauty-resolution/|website=Hello Giggles|url-status=live|archive-url=https://web.archive.org/web/20180119031330/https://hellogiggles.com/beauty/nicole-richie-interview-beauty-resolution/|archive-date=January 19, 2018}}

File:JCPenney Storefront.jpg in Deptford Township, New Jersey, 2018]]

In 2018, the JCPenney at Plaza Palma Real in Humacao, Puerto Rico closed permanently, after Hurricane Maria devastated the store in September 2017.{{Cite news|url=https://www.dallasnews.com/business/retail/2018/02/14/jc-penney-will-close-wisconsin-distribution-center-closing-8-stores|title=J.C. Penney is closing a Wisconsin distribution center and 8 stores|date=February 14, 2018|work=Dallas News|access-date=March 27, 2018|language=en|url-status=live|archive-url=https://web.archive.org/web/20180328102410/https://www.dallasnews.com/business/retail/2018/02/14/jc-penney-will-close-wisconsin-distribution-center-closing-8-stores|archive-date=March 28, 2018}} In May, JCPenney reported an adjusted loss of $69 million in the first quarter, even worse than Wall Street predicted, and lowered its projections for the year.{{cite web|title=JCPenney is Running Out of Time|first=Paul|last=La Monica|url=https://money.cnn.com/2018/05/17/investing/jcpenney-earnings/index.html|access-date=May 17, 2018|website=CNN Money|date=May 17, 2018|url-status=live|archive-url=https://web.archive.org/web/20180517184755/http://money.cnn.com/2018/05/17/investing/jcpenney-earnings/index.html|archive-date=May 17, 2018}} Sales fell 4%, also missing estimates. Earlier in 2018, the company announced it would cut 360 jobs at its stores and corporate headquarters. The company lowered its earnings forecast for the year to 13 cents per share at best, and said it could lose as much as 7 cents. JCPenney finished the quarter with just $181 million in cash, down from $363 million a year ago. Much of the big decrease was because of a $190 billion debt replace. On May 22, JCPenney announced the resignation of their CEO, Marvin Ellison. On October 2, JCPenney announced former Jo-Ann Stores CEO Jill Soltau as their CEO, effective October 15. With the announcement, JCPenney's shares rose 9%.{{Cite news|url=https://www.cnbc.com/2018/10/02/jc-penney-appoints-jill-soltau-as-ceo.html|title=JC Penney taps former Joann Stores chief Jill Soltau as its CEO, sending shares up more than 10%|last=Thomas|first=Lauren|date=October 2, 2018|work=CNBC|access-date=October 17, 2018}} The company ranked 235 on the Fortune 500 list of the largest United States corporations by revenue.{{Cite web|url=http://fortune.com/fortune500/j-c-penney/|title=J.C. Penney|website=Fortune|language=en-US|access-date=November 25, 2018|archive-date=November 25, 2018|archive-url=https://web.archive.org/web/20181125132424/http://fortune.com/fortune500/j-c-penney/|url-status=dead}}{{Cite news|url=https://www.bloomberg.com/news/articles/2019-09-17/can-j-c-penney-bounce-back-ceo-revamps-dressing-rooms-and-more|title=Penney's First Female CEO Says Her Turnaround Will Be the One to Work|author=Jordyn Holman|date=September 17, 2019|work=Bloomberg|access-date=February 26, 2020}} She has also brought new talent and has cleaned out inventory.{{Cite web|url=https://www.forbes.com/sites/warrenshoulberg/2019/09/20/two-sides-of-the-penney-soltau--and-johnson/|title=Jill Soltau's Slow Approach To Save JC Penney May Be As Dangerous As Ron Johnson's Quick Attempt|last=Shoulberg|first=Warren|website=Forbes|language=en|access-date=February 26, 2020}} On December 26, the stock price of JCPenney (NYSE: JCP) fell below $1 per share. This was the first time ever that shares had fallen below $1 in the 110-year history of the company, which started trading on the New York Stock Exchange in 1929. The stock fell 68% over the course of 2018, including a 30% drop in December 2018 alone.{{cite news|url=https://www.cnn.com/2018/12/26/investing/jcpenney-stock/index.html|title=JCPenney stock falls below $1 for the first time ever|last=Goldman|first=David|date=December 26, 2018|work=CNN Business|access-date=December 26, 2018}}

On February 6, 2019, JCPenney said it would stop selling major appliances on February 28, and that furniture would be limited to online and stores in Puerto Rico.{{cite news|url=https://www.cnn.com/2019/02/06/investing/jcpenney-appliances/index.html|title=JCPenney is ditching appliances and most furniture from its stores|last=Goldman|first=David|date=February 6, 2019|work=CNN Business|access-date=February 6, 2019}} On February 28, JCPenney announced its intent to close 27 stores in 2019, including 18 full-line department stores and nine home-and-furniture stores. The closure announcement was paired with news that the retailer had suffered a 4% decline in same-store sales during the 2018 holiday quarter.{{Cite web|url=https://www.businessinsider.com/jcpenney-stores-closing-2019-2|title=JCPenney plans to close 27 stores as sales sink|last=Peterson|first=Hayley|website=Business Insider|access-date=May 29, 2019}} On March 26, JCPenney announced the hiring of Bill Wofford as chief financial officer. Wofford came to the company from The Vitamin Shoppe, where he had served as CFO since June 2018.{{Cite news|url=https://www.wsj.com/articles/j-c-penney-nabs-former-vitamin-shoppe-cfo-11553635403|title=J.C. Penney Taps New CFO as Retailer Fights Falling Sales|last=Shumsky|first=Tatyana|date=March 27, 2019|work=The Wall Street Journal|access-date=April 17, 2019|language=en-US|issn=0099-9660}} On May 21, JCPenney announced that Shawn Gensch would be the chief customer officer, to take effect on June 3. Gensch comes from Sprouts Farmers Market where he was their CCO.{{cite web|url=https://www.bizjournals.com/dallas/news/2019/05/21/jcpenney-names-new-chief-customer-officer.html?|date=May 21, 2019|title=JCPenney names new chief customer officer|work=Dallas Business Journal|access-date=May 21, 2019}} Also on May 21, JCPenney announced a net sales decline of 5.6% and a net loss of $154 million for its fiscal first quarter of 2019, which ended on May 5.{{Cite web|url=https://www.foxbusiness.com/markets/jcpenney-kohls-post-disappointing-earnings-in-first-quarter-stocks-crater|title=JCPenney, Kohl's disappoint and stocks crater|last=Joyce|first=Kathleen|date=May 21, 2019|website=FOXBusiness|language=en-US|access-date=May 29, 2019}}

On January 19, 2020, JCPenney announced plans to close six stores.{{Cite web|url=https://www.dallasnews.com/business/retail/2020/01/19/jc-penney-to-close-6-stores-and-a-call-center/|title=J. C. Penney to close six stores and a call center|date=January 19, 2020|newspaper=The Dallas Morning News|language=en|access-date=January 26, 2020}}

On March 15, 2020, when businesses were ordered to temporarily close in many states, the chain closed all of its stores and furloughed its employees. JCPenney became the fourth major national retailer to file for bankruptcy in May 2020.{{cite news|url=https://www.cnn.com/2020/05/15/business/jcpenney-bankruptcy/index.html|title=J. C. Penney files for bankruptcy|last1=Isidore|first1=Chris|last2=Meyersohn|first2=Nathaniel|date=May 15, 2020|work=CNN|access-date=May 15, 2020}}{{Cite web|title=J.C. Penney to close 242 stores|url=https://news.yahoo.com/j-c-penney-close-242-223900349.html|website=news.yahoo.com|date=May 18, 2020 |language=en-US|access-date=May 19, 2020}} Days earlier, it was reported in a regulatory filing that JCPenney would give bonuses totaling nearly $10 million to the company's senior managers, which included $4.5 million to CEO Jill Soltau.{{cite news|url=https://www.forbes.com/sites/warrenshoulberg/2020/05/13/soltau-and-team-taking-10-million-in-bonuses-out-of-sinking-penney/#594a65931f55|title=Soltau And Team Taking $10 Million In Bonuses Out Of Sinking Penney|last1=Shoulberg|first1=Warren|date=May 13, 2020|work=Forbes|access-date=May 16, 2020}} After 91 years, it was delisted from the New York Stock Exchange on May 18, 2020, and started trading over-the-counter the following business day.{{Cite news|title=NYSE to Suspend Trading in J. C. Penney Company (JCP)|work=StreetInsider.com|url=https://www.streetinsider.com/Corporate+News/NYSE+to+Suspend+Trading+in+J.+C.+Penney+Company+(JCP)/16901254.html|access-date=May 19, 2020}}

On March 18, JCPenney announced all retail stores would temporarily close in response to the global COVID-19 pandemic until April 2. On March 31, JCPenney announced an extension of the planned April 2 reopening, with a new date not possible to be determined at the time. On May 1, JCPenney announced a limited number of stores would reopen.{{Cite web|url=https://companyblog.jcpnewsroom.com/storesopen/#openstores|title = Coronavirus (COVID-19) Response – Penney IP LLC| date=April 28, 2020 }}

On May 15, 2020, JCPenney filed for Chapter 11 bankruptcy and announced that there would be an additional 242 store closings, blaming the COVID-19 pandemic for its action. By June 17, JCPenney reopened approximately 827 stores; most of the 154 scheduled for permanent closure in 2020 were among those reopened, with final closing sales in progress. On June 22, JCPenney identified an additional 13 stores that would be permanently closed.{{Cite web|last=Thomas|first=Lauren|date=June 23, 2020|title=JC Penney is closing 13 more stores. Here's a map of where they are|url=https://www.cnbc.com/2020/06/23/jc-penney-is-closing-13-more-stores-heres-a-map-of-where-they-are.html|website=CNBC|language=en}} On July 7, 2020, JCPenney announced that they would close two stores in New York City; one at the Manhattan Mall, which was closed immediately and the Kings Plaza store in Brooklyn, which closed on Sunday, September 27, 2020.{{Cite web|title=Bankrupt JCPenney Is Closing its Manhattan Mall and Kings Plaza Locations in NYC|url=https://www.yahoo.com/lifestyle/bankrupt-jcpenney-closing-manhattan-mall-221447795.html|access-date=July 9, 2020|website=www.yahoo.com|date=July 7, 2020 |language=en-US}} On December 17, 2020, JCPenney announced that they would close 15 additional stores in March 2021.{{Cite web|last=Tyko|first=Kelly|title=J.C. Penney closing more stores after exiting bankruptcy. Will your store close in March 2021? See the list.|url=https://www.usatoday.com/story/money/shopping/2020/12/17/jcpenney-stores-closing-march-2021-list-coronavirus-bankruptcy/3940925001/|access-date=January 13, 2021|website=USA Today|language=en-US}}{{Cite web|title=JCPenney Store Closings – Penney IP, LLC|url=https://companyblog.jcpnewsroom.com/storeclosings/|access-date=January 31, 2021|website=companyblog.jcpnewsroom.com|date=June 4, 2020|archive-date=July 11, 2020|archive-url=https://web.archive.org/web/20200711012214/https://companyblog.jcpnewsroom.com/storeclosings/|url-status=dead}} As of June 2021, there have been a total of 175 store closures. On December 30, 2020, it was announced that Jill Soltau would step down as CEO of JCPenney, effective December 31, 2020. It is unclear whether she was fired or resigned.{{Cite web|date=December 7, 2020|title=J.C. Penney sale to landlords Simon and Brookfield is completed|url=https://www.dallasnews.com/business/retail/2020/12/07/jc-penney-sale-to-landlords-simon-and-brookfield-is-completed/|access-date=December 30, 2020|website=Dallas News|language=en}} On January 1, 2021, Soltau was replaced by Simon Property's chief investment officer, Stanley Shashoua.{{Cite web|date=December 31, 2020|title=J.C. Penney is toast in 2021|url=https://finance.yahoo.com/news/jc-penney-is-toast-in-2021-172357996.html|access-date=December 31, 2020|website=Yahoo News|language=en}}

On June 4, 2020, JCPenney released a list of 148 stores slated to close starting in late June 2020, with eleven additional store closures announced on June 22 and two additional stores on July 7, with the previously announced store closing locations remaining on hold pending further review, for a planned closing a total of 242 stores.{{Cite web|last=Bomey|first=Nathan|title=J.C. Penney store closings list released: Is your local store facing liquidation in bankruptcy?|url=https://www.usatoday.com/story/money/2020/06/04/jcpenney-store-closings-list-liquidation-store-closures/3135608001/|access-date=June 8, 2020|website=USA Today|language=en-US}}{{Cite web|title=JCPenney Store Closings – JCPenney Company Blog|url=https://companyblog.jcpnewsroom.com/storeclosings/|access-date=June 8, 2020|website=companyblog.jcpnewsroom.com|date=June 4, 2020|archive-date=July 11, 2020|archive-url=https://web.archive.org/web/20200711012214/https://companyblog.jcpnewsroom.com/storeclosings/|url-status=dead}}{{Cite news|author=Chris Isidore|title=JCPenney will close nearly 30% of its stores as part of its bankruptcy plan|url=https://www.cnn.com/2020/05/18/business/jcpenney-store-closings/index.html|access-date=June 9, 2020|website=CNN}}{{Cite web|last=Tyko|first=Kelly|title=J.C. Penney liquidation sales at 136 closing stores underway with discounts up to 40% off|url=https://www.usatoday.com/story/money/2020/06/17/jcpenney-bankruptcy-store-closings-list-liquidation-sale/3203417001/|website=USA Today|language=en-US}}{{Cite web|last=Bomey|first=Nathan|title=13 more J.C. Penney store closings revealed: Department store continues bankruptcy store closures|url=https://www.usatoday.com/story/money/2020/06/23/jcpenney-store-closings-liquidation-sales/3240917001/|website=USA Today|language=en-US}} Since the initial filing, rumors of potential buyers included Amazon, Sycamore Partners, and a group consisting of Authentic Brands (Forever 21, Aeropostale, Barneys), and mall owners Simon Property Group and Brookfield Properties.{{Cite web|last=PYMNTS|date=June 16, 2020|title=Forever 21 Bailout Team May Rescue JCPenney|url=https://www.pymnts.com/news/retail/2020/forever-21-bailout-team-may-rescue-jcpenney/|website=PYMNTS.com|language=en-US}}{{Cite web|last=Schmidt|first=Ann|date=June 5, 2020|title=Bankrupt JCPenney, Sycamore Partners in acquisition talks: Report|url=https://www.foxbusiness.com/money/jcpenney-acquisition-talks-sycamore-partners|website=FOXBusiness|language=en-US}}{{Cite web|last=Stein|first=Sanford|title=As Reports Swirl, What Could Amazon Want From JCPenney?|url=https://www.forbes.com/sites/sanfordstein/2020/05/21/what-does-amazon-want-from-jcpenney/|website=Forbes|language=en}} On July 8, JCPenney submitted their bankruptcy exit plan to existing lenders, and requested more time for negotiations.{{Cite web|url=https://footwearnews.com/2020/business/retail/jcpenney-business-plan-extension-bankruptcy-1203020633/|title = Why JCPenney is Asking for More Time as it Wades Through Bankruptcy|date = July 9, 2020}} On July 31, 2020, it was announced that 21 stores, including the "Mother Store" in Kemmerer, Wyoming, would be auctioned off as part of the proceedings.{{Cite web|last=Lisicky|first=Michael|title=JCPenney Puts Its Original 1902 Store – In Kemmerer, Wyoming – Up For Auction|url=https://www.forbes.com/sites/michaellisicky/2020/08/01/jcpenney-puts-its-original-1902-storein-kemmerer-wyomingup-for-auction/|website=Forbes|language=en|access-date=August 2, 2020}}File:Former Sephora inside JCPenney; Pittsburgh Mills; Tarentum PA.jpg in Tarentum, Pennsylvania]]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,{{cite web|url=https://www.bizjournals.com/dallas/news/2020/09/09/jcpenny-retail-business-simon-property-brookfield.html? |last=Ayers |first=Rebecca |date=September 9, 2020 |title=The New York Times: J.C. Penney to sell retail business to Simon Property Group and Brookfield Property Partners |work=Dallas Business Journal |access-date=September 9, 2020}} which was later approved by the court on November 10, 2020. It had been established that once the company emerges from bankruptcy it is poised to save nearly 60,000 jobs, according to various independent studies.{{Cite news|last=Thorbecke|first=Catherine|title=J.C. Penney emerging from bankruptcy could save 60,000 jobs|url=https://abcnews.go.com/Business/jc-penney-emerging-bankruptcy-save-60000-jobs/story?id=74146508|access-date=November 25, 2020|website=ABC News|language=en}} The company was paying $2.45 million in monthly rent at the time it sold its headquarters offices in Plano, Texas in 2017; the location was permanently vacated in November 2020.{{Cite web|title=JCPenney Turns Off The Lights At Its Plano, Texas Headquarters|url=https://www.forbes.com/sites/warrenshoulberg/2020/11/23/jcpenney-turns-off-the-lights-at-its-plano-headquarters/?sh=3c8c00ec42a5|date=November 23, 2020|access-date=December 28, 2020|website=Forbes|language=en-US}}{{Cite web|title=J.C. Penney still doesn't have a headquarters, but it's making do at the mall|url=https://www.dallasnews.com/business/retail/2021/07/28/jc-penney-still-doesnt-have-a-headquarters-but-its-making-do-at-the-mall|date=July 28, 2021|access-date=August 21, 2021|website=Dallas News|language=en-US}}

In October 2021, the company opened 10 new shop-in-shop locations across the US, featuring a wide variety of brands, including indie and BIPOC brands, among them flagship partner Thirteen Lune.{{Cite web|title=JCPenney unveils 10 indie beauty-focused shop-in-shop locations across the US|url=https://www.premiumbeautynews.com/en/jcpenney-unveils-10-indie-beauty,19161|access-date=2021-11-18|website=Premium Beauty News|language=en}} Marc Rosen became CEO in 2021.

In April 2022, JCPenney's owners—Simon and Brookfield—offered $8.6 billion to purchase Kohl's.{{Cite web |last=Stein |first=Sanford |title=Simon and Brookfield Pursue Kohl's to Join Rival J.C. Penney |url=https://www.forbes.com/sites/sanfordstein/2022/05/01/simon-and-brookfield-pursue-kohls-to-join-rival-jc-penney/ |website=Forbes |language=en}} Sephora had already announced plans to contract exclusively with Kohl's by 2023, and had piloted Sephora Inside Kohls at select store locations. With this deal, Sephora would remain affiliated with, and under control of, the Simon and Brookfield retail portfolio, therefore superseding and annulling previous agreements for Sephora to leave JCPenney in favor of Kohl's.{{Cite web |date=2022-05-10 |title=A streamlined proposal for rival retailers: Is JCPenney buying Kohl's? |url=https://www.silive.com/business/2022/05/a-streamlined-proposal-for-rival-retailers-is-jcpenney-buying-kohls.html |website=silive |language=en}}

The company returned to its Plano, Texas, headquarters in July 2023.{{Cite web |last=((FOX 4 Staff)) |first= |date=2023-07-20 |title=JCPenney reopens corporate headquarters in Plano |url=https://www.fox4news.com/news/jcpenney-reopens-corporate-headquarters-in-plano |access-date=2023-07-21 |website=FOX 4 |language=en-US}} The reopened headquarters contains over 2,000 workers and occupies three floors.{{Cite web |date=2023-07-20 |title=JCPenney signals stability with move back into old Plano headquarters |url=https://www.dallasnews.com/business/retail/2023/07/20/jcpenney-signals-stability-with-move-back-into-old-plano-headquarters/ |access-date=2023-07-21 |website=Dallas News |language=en}}

File:J. C. Penney Old Logo.svg|Penney's logo used from 1963 to 1971 but still on stores until the 1980s

File:JCPenney logo.svg|JCPenney logo,{{cite web | url=http://www.jcpmediaroom.com/Browse/Images/Logos | title=J.C. Penney Logos | publisher=J.C. Penney Company, Inc. | access-date=January 11, 2014 | url-status=dead | archive-url=https://web.archive.org/web/20140111081708/http://www.jcpmediaroom.com/Browse/Images/Logos | archive-date=January 11, 2014 }} originally used from 1971 to 2011, again from 2013 to 2019, and again starting in 2023

File:J. C. Penney logo.png|JCPenney box logo 2000–2005

File:JCPenney logo 2011.svg|Alternate JCPenney logo used on a few stores, used from 2011 until 2012

File:JCPenney 2012 logo.svg|JCPenney logo used from 2012 to 2013{{cite web|url=https://www.jcpenney.com/jcp-brand/cat.jump?id=cat1001600004|archive-url=https://web.archive.org/web/20150627062157/http://www.jcpenney.com/jcp-brand/cat.jump?id=cat1001600004|url-status=dead|archive-date=June 27, 2015|title=The New jcp Brand|date=November 24, 2014|publisher=JCPenney|access-date=November 24, 2014}}

File:JCPenney logo (2019).svg|JCPenney logo used from November 1, 2019, to 2023

Beginning with the Marathon Hats line, JCPenney has introduced multiple private brands, partially in response to suppliers denying access to expected inventories.{{cite web |last=Bailey |first=Sharon |url=http://marketrealist.com/2015/10/restoring-private-brands-important-jcpenney/ |title=Why Has JCPenney Been Restoring Its Private Brands? |website=Market Realist |date=October 1, 2015 |access-date=April 13, 2017 |url-status=live |archive-url=https://web.archive.org/web/20170331115343/http://marketrealist.com/2015/10/restoring-private-brands-important-jcpenney/ |archive-date=March 31, 2017 }}{{Cite web|date=May 26, 2020|title=JCPenney Unveils Linden Street Home Brand Bedding Collection|url=https://www.businesswire.com/news/home/20200526005465/en/JCPenney-Unveils-Linden-Street-Home-Brand-Bedding|access-date=June 9, 2020|website=www.businesswire.com|language=en}}

• St. John's Bay, casual clothing and shoes for men and women, including Big & Tall (men) and Plus (women)
• St. John's Bay Outdoor, men's outdoor apparel
• The Original Arizona Jean Company, casual clothing and sandals for men, women, and children, including Big & Tall
• Xersion, active and athletic clothing for men, women and children
• Worthington, women's formal and casual clothing and shoes
• a.n.a, young women's urban clothing and shoes
• Ambrielle, women's sleepwear, intimates, and swim
• Liz Claiborne, women's apparel{{Cite news |last=Kass |first=Arielle |date=10 June 2012 |title=Private brands an edge for stores |edition=Final |volume=64 |pages=D1, D5 |work=The Atlanta Journal-Constitution |issue=162 |department=Business |url=https://www.newspapers.com/clip/115631724/private-retail-brands/ |access-date=2 January 2023 |via=Newspapers.com}} [https://www.newspapers.com/clip/115631744/private-retail-brands-pt2/ Link to second half of article].
• Ryegrass, stylish women's fashion
• Stafford, men's tailored/fitted clothing and shoes
• J. Ferrar, men's full line of slim-fitting clothing, including Big & Tall
• Collection by Michael Strahan, men's suits, ties, and cuff links
• Claiborne (discontinued), men's apparel
• Mutual Weave, men's denim and casual outerwear
• Marilyn Monroe, women's vintage collection
• Foundry Supply Co. (discontinued solo stores, brand moved to JCPenney stores), men's Big & Tall apparel, superseded by SJB and Arizona.
• ThereAbouts, casual wear for boys and girls
• Okie Dokie, newborn and toddler apparel
• JCPenney Home, home goods
• Linden Street, bedding
• Cooks, cookware
• Home Expressions, home goods
• North Pole Trading Co, Christmas decor & bedding
• Marathon Hats (the first JCP private brand)
• Loom + Forge, modern home decor, bedding, and window

• Eckerd Pharmacy – a chain of pharmacies that JCPenney sold off in 2004, with former locations becoming CVS or Rite Aid.
• The Treasury / Treasure Island – a chain of discount stores that JCPenney closed in the 1980s
• Treasury drug stores – a chain of stand-alone drug stores that were also branded with the Treasury nameplate. Treasury Drug stores became Eckerd which JCPenney also owned.
• JCPenney InsuranceArchived at [https://ghostarchive.org/varchive/youtube/20211205/JOw-tYfWbDU Ghostarchive]{{cbignore}} and the [https://web.archive.org/web/20210625132440/https://www.youtube.com/watch?v=JOw-tYfWbDU&feature=youtu.be Wayback Machine]{{cbignore}}: {{cite web| url = https://youtube.com/watch?v=JOw-tYfWbDU&feature=youtu.be| title = 1980 JCPenney Insurance Commercial | website=YouTube}}{{cbignore}} – JCPenney Casualty Insurance (also referred to as Penney-Wise Protection) was sold to Metropolitan Life Insurance Company in 1989.{{Cite news |url=https://apnews.com/article/32c88e0264cd4c123cac8fecc8752cd9 |title = Metropolitan Buys J.C. Penney Casualty Insurance |author=Doug Fisher |website= |publisher=AP News|date = June 8, 1989 |access-date=December 5, 2021}}
• Auto Centers – JCPenney had Auto Centers during the 1970s and 1980s. Some JCPenney Auto Centers had gas stations.{{Cite web|url=https://xoverit.tumblr.com/post/177853975066/j-c-penneys-gas-station-and-auto-center/amp|title = X over it — J. C. Penney's gas station and auto center}} JCPenney closed the auto centers by the 1990s.
• JCPenney Home Stores – stores that sold linens & home decor
• JCPenney Outlet / JC's 5 Star Outlet – JCPenney Outlet Stores were stores that sold JCPenney's merchandise at a lower outlet store price. JC's 5 Star Outlet was a "lower rank" outlet store. All of the outlet stores were closed by 2013.
• JCPenney furniture outlet – JCPenney outlet stores that only sold furniture and rugs.
• JCPenney Restaurants{{Cite news|url=https://www.newspapers.com/clip/33411259/jcpenney-restaurant-viewmont-mall-1985/|title = JCPenney Restaurant Viewmont Mall 1985|newspaper = Scrantonian Tribune|date = April 28, 1985|page = 18}} – some stores had JCPenney-branded restaurants
• Penncraft Tools – a short-lived line of tools intended to compete with Sears Craftsman, with hand tools manufactured by New Britain and power tools and drill bits manufactured by Stanley.

JCPenney locations that are listed on the National Register of Historic Places (NRHP):

• J. C. Penney–Chicago Store Building (Tucson, Arizona)
• J. C. Penney Company Building (Shoshone, Idaho)
• J. C. Penney Co. Warehouse Building (St. Louis, Missouri)
• J. C. Penney Building (Newberg, Oregon)
• J. C. Penney Historic District, Kemmerer, Wyoming, a National Historic Landmark District
• J. C. Penney House, Kemmerer, Wyoming

• Retail apocalypse

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