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77-590: Penney OpCo LLC , doing business as JCPenney and often abbreviated JCP , is an American department store chain that operates 656 stores across 49 U.S. states and Puerto Rico. Departments inside JCPenney stores include Men's, Women's, Boys', Girls', Baby, Bedding, Home, Fine Jewelry, Shoes, Lingerie, JCPenney Salon , JCPenney Beauty , as well as leased departments such as Seattle's Best Coffee , US Vision optical centers, and Lifetouch portrait studios. Most JCPenney stores were initially located in downtown areas, but, as shopping malls grew in popularity during

154-675: A "Jacques Penne" pop-up shop in Manhattan during the 2017 holiday season. In 2018, the JCPenney at Plaza Palma Real in Humacao, Puerto Rico closed permanently, after Hurricane Maria devastated the store in September 2017. 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. Sales fell 4%, also missing estimates. Earlier in 2018,

231-688: A 16.6% stake in Martha Stewart Living Omnimedia, intending to create "mini-Martha Stewart shops" in its stores by 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. The company also experienced staff cuts, laying off 1,600 employees in January and 600 more in April 2012. Johnson was dismissed in April 2013 and replaced by former CEO Mike Ullman . In late 2013, JCPenney faced challenges in

308-420: A DBA must be registered with a local or state government, or both, depending on the jurisdiction. For example, California, Texas and Virginia require a DBA to be registered with each county (or independent city in the case of Virginia) where the owner does business. Maryland and Colorado have DBAs registered with a state agency. Virginia also requires corporations and LLCs to file a copy of their registration with

385-467: A DBA statement, though names including the first and last name of the owner may be accepted. This also reduces the possibility of two local businesses operating under the same name, although some jurisdictions do not provide exclusivity for a name, or may allow more than one party to register the same name. Note, though, that this is not a substitute for filing a trademark application. A DBA filing carries no legal weight in establishing trademark rights. In

462-517: A J. C. Penney in Des Moines, Iowa . Walton subsequently founded retailer Walmart in 1962. 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. The company dedicated its first full-line shopping-center department store in 1961. This store

539-476: A contract, invoice, or cheque, they must also add the legal name of the business. Numbered companies will very often operate as something other than their legal name, which is unrecognizable to the public. In Chile , a trade name is known as a nombre de fantasía ('fantasy' or 'fiction' name), and the legal name of business is called a razón social (social name). In Ireland , businesses are legally required to register business names where these differ from

616-506: A grand opening on July 31 coinciding with the completion of its grocery department. The Treasure Island name was used into 1969, when it was announced in mid-May that the chain was to expand westward to Orange County, California . It was in July of the same year, however, while announcing an impending entry into the south Florida market that its new name, The Treasury, was divulged. This was, according to Jack F. Behrendt, then-vice president of

693-600: A group of stores that were divested because of trade competition issues raised during the merger.) 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 . In 1998, JCPenney launched its Internet store . Between 1995 and 1998, JCPenney entered Indonesia under partnership with Lippo Group (under their Multipolar investment arm) with

770-482: 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. That year, JCPenney reached an agreement with Seattle's Best Coffee to feature full-service cafes within leased departments inside JCPenney stores across

847-529: 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

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924-430: A planned closing a total of 242 stores. 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. On July 8, JCPenney submitted their bankruptcy exit plan to existing lenders, and also requested more time for negotiations. On July 31, 2020, it

1001-536: A preview of an upcoming product line. 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. 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

1078-530: A prize at the Cannes Lions International Advertising Festival . The ad was criticized for seeming to promote teen sex. JCPenney denied that the ad was theirs and their advertising agency Saatchi & Saatchi reported that it had been created by a third-party vendor. It was entered in the competition by Epoch Films, who declined to comment. Marketing expert John Tantillo advised that the company distance itself from

1155-434: A simpler name rather than using their formal and often lengthier name. Trade names are also used when a preferred name cannot be registered, often because it may already be registered or is too similar to a name that is already registered. Using one or more fictitious business names does not create additional separate legal entities. The distinction between a registered legal name and a fictitious business name, or trade name,

1232-417: 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

1309-413: A trade name is known as a nombre de fantasía ('fantasy' or 'fiction' name), and the legal name of business is called a razón social (social name). In Brazil , a trade name is known as a nome fantasia ('fantasy' or 'fiction' name), and the legal name of business is called razão social (social name). In some Canadian jurisdictions , such as Ontario , when a businessperson writes a trade name on

1386-556: A wave of millennials who are buying first-time homes. In February, JCPenney opened a support center in Bangalore , India. 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. The land has since been broken up and sold and developed. Space inside the headquarters building has been subleased. Part of this land

1463-658: 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. 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,

1540-628: Is called a razón social . The Treasury (store) Treasure Island , formerly The Treasury , was a chain of discount stores owned for most of its lifespan by J.C. Penney . The General Merchandise Company was a mail order company founded by David Kritzik and his two sons, Robert and Stanley, in Milwaukee, Wisconsin . Treasure Island was founded as GMC's discount store division, with their first location opening in Appleton, Wisconsin on November 24, 1961. The architecture of these stores,

1617-498: Is important because fictitious business names do not always identify the entity that is legally responsible . Legal agreements (such as contracts ) are normally made using the registered legal name of the business. If a corporation fails to consistently adhere to such important legal formalities like using its registered legal name in contracts, it may be subject to piercing of the corporate veil . In English , trade names are generally treated as proper nouns . In Argentina ,

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1694-410: 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

1771-448: Is unclear whether she was fired or resigned. On January 1, 2021, Soltau was replaced by Simon Property's chief investment officer, Stanley Shashoua. 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

1848-499: Is used to designate a trade name. In the United States , the phrase " doing business as " (abbreviated to DBA , dba , d.b.a. , or d/b/a ) is used, among others, such as assumed business name or fictitious business name . In Canada , " operating as " (abbreviated to o/a ) and " trading as " are used, although " doing business as " is also sometimes used. A company typically uses a trade name to conduct business using

1925-501: 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 also continued to accept JCPenney credit cards. After Rite Aid finalized its acquisition of Eckerd in 2007,

2002-518: 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. On July 7, 2020, JCPenney announced that they would close two stores in New York City; one at

2079-842: The JCPenney style in advertising. and its revenues reached $ 5 billion (equivalent to $ 37.6 billion in 2024) for the first time and catalog business made a profit for the first time. 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

2156-595: The Lombardy region. 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. 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

2233-653: The Manhattan Mall , which was closed immediately and the Kings Plaza store in Brooklyn, which closed on Sunday, September 27, 2020. On December 17, 2020, JCPenney announced that they would close 15 additional stores in March 2021. 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

2310-547: The Memphis, Tennessee area that had been announced in September 1969 were opened on July 29, 1971. Some stores also sold food and fuel , like the Wal-Mart Supercenters of today. But the recessions of the 1970s and early 1980s were too much to bear for J.C. Penney, and the discount division started losing money. The Treasury stores were eventually closed in 1981. However, the mail order business, which

2387-466: The United Kingdom , there is no filing requirement for a "business name", defined as "any name under which someone carries on business" that, for a company or limited liability partnership, "is not its registered name", but there are requirements for disclosure of the owner's true name and some restrictions on the use of certain names. A minority of U.S. states, including Washington , still use

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2464-619: 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 . 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. The Honolulu store

2541-560: The 1960s, the chain began relocating and developing stores to anchor the malls. In recent years, JCP has opened stores in power centers , as well as stand-alone stores, sometimes adjacent to competitors. The company has been an Internet retailer since 1998, and it has streamlined its catalog and distribution while undergoing renovation improvements at store level. After filing for Chapter 11 bankruptcy protection in May 2020, Brookfield Asset Management and Simon Property Group agreed to purchase

2618-536: The 1980s JCPenney's also stopped selling outdoor equipment and hardware such as lawn mowers and tools. Construction on the new company headquarters in Plano, Texas broke ground in 1990 and were 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,

2695-474: The Ambrielle lingerie label, which became its largest private brand launched in the company's history. 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

2772-477: 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

2849-506: The Rocky Mountain States. In 1913, all stores were consolidated under the J. C. Penney banner. The so-called "mother store", in Kemmerer, opened as the chain's second location in 1904. 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. By 1917,

2926-479: The Simon and Brookfield retail portfolio, therefore superseding and annulling previous agreements for Sephora to leave JCPenney in favor of Kohl's. The company returned to its Plano, Texas, headquarters in July 2023. The reopened headquarters contains over 2,000 workers and occupies three floors. In June 2008, an ad called "Speed Dressing" emerged ending with the JCPenney logo and slogan "Every Day Matters". The ad won

3003-418: The U.S., trademark rights are acquired by use in commerce, but there can be substantial benefits to filing a trademark application. Sole proprietors are the most common users of DBAs. Sole proprietors are individual business owners who run their businesses themselves. Since most people in these circumstances use a business name other than their own name, it is often necessary for them to get DBAs. Generally,

3080-767: 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

3157-414: 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

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3234-547: The commercial and also shed the publicity it engendered. Beginning with the Marathon Hats line, JCPenney has introduced multiple private brands, partially in response to suppliers denying access to expected inventories. JCPenney locations that are listed on the National Register of Historic Places (NRHP): Doing business as In a number of countries, the phrase " trading as " (abbreviated to t/a )

3311-425: 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

3388-505: The company announced that it was moving its headquarters to Plano, Texas . After several years of development, the JCPenney Television Shopping Channel appeared on cable systems beginning in 1989. 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

3465-957: The company emerges from bankruptcy it is poised to save nearly 60,000 jobs, according to various independent studies. 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. 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, including flagship partner Thirteen Lune . Marc Rosen became CEO in 2021. In April 2022, JCPenney's owners—Simon and Brookfield—offered $ 8.6 billion to purchase Kohl's . 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,

3542-911: The company for approximately $ 800 million in cash and debt in September 2020. The deal was approved by the U.S. bankruptcy court for the Southern District of Texas two months later. 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. 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. 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

3619-526: The company on retail. In 2003, the company opened three stores in strip centers in Texas , Minnesota and Indiana . The new one-level, 94,000 sq ft (8,700 m) format stores focus on convenience with wider aisles and centralized checkouts. In 2004, the company added 14 more stores and exited the drug store division after 35 years, with the sale of its Eckerd division. The company also sold its six Mexico stores to Grupo Carso , which rebranded five of

3696-585: 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 $ 3.37 billion in 2024). In 1940, Sam Walton began working at

3773-431: The country. Seattle's Best Coffee is still expanding café locations within JCPenney locations across the country. In 2010, Vornado Realty Trust acquired a 9.9% stake in JCPenney but sold it in 2013 for $ 13.00 per share. On January 24, 2011, JCPenney shut down its catalog business and 19 outlet stores. Seven additional stores and two call centers also closed. On February 12, 2011, The New York Times revealed that JCPenney

3850-534: The county or city to be registered with the State Corporation Commission. DBA statements are often used in conjunction with a franchise . The franchisee will have a legal name under which it may sue and be sued, but will conduct business under the franchiser's brand name (which the public would recognize). A typical real-world example can be found in a well-known pricing mistake case, Donovan v. RRL Corp. , 26 Cal. 4th 261 (2001), where

3927-552: The drug store business was expanded with the acquisition of Kerr Drug and again in 1996 with the purchase of Fay's Drug . 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

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4004-510: The following business day. 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. On May 15, 2020, JCPenney filed for Chapter 11 bankruptcy and announced that there would be an additional 242 store closings, blaming

4081-474: The fourth major national retailer to file for bankruptcy in May 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 . After 91 years, it was delisted from the New York Stock Exchange on May 18, 2020, and started trading over-the-counter

4158-402: The law is to protect the public from fraud, by compelling the business owner to first file or register his fictitious business name with the county clerk, and then making a further public record of it by publishing it in a newspaper. Several other states, such as Illinois , require print notices as well. In Uruguay , a trade name is known as a nombre fantasía , and the legal name of business

4235-782: 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 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. 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 $ 2.24 billion in 2024) in cash to help refocus

4312-461: The named defendant, RRL Corporation, was a Lexus car dealership doing business as " Lexus of Westminster ", but remaining a separate legal entity from Lexus, a division of Toyota Motor Sales, USA, Inc. . In California , filing a DBA statement also requires that a notice of the fictitious name be published in local newspapers for some set period of time to inform the public of the owner's intent to operate under an assumed name . The intention of

4389-566: 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%. The company ranked 235 on the Fortune 500 list of the largest United States corporations by revenue. She has also brought new talent and has cleaned out inventory. On December 26, the stock price of JCPenney (NYSE: JCP) fell below $ 1 per share. This

4466-489: The stock market, issuing 84 million shares amid declining margins and a return to promotional pricing strategies. In January 2015, it was announced that JCPenney would close 39 under-performing stores nationwide and lay off 2,250 employees. 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

4543-613: The stores as Dorian's and the other one as Sears Mexico . In 2005, JCPenney's e-commerce storefront exceeded the one billion dollar revenue mark for the first time. 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. In 2007, JCPenney launched

4620-705: The stores under J.C. Penney, to shift the chain's image and better express its personality. Stores in the Milwaukee and Atlanta, Georgia markets, in which the Treasure Island name was already well established, were not renamed. Despite having been announced before the name change, the first locations to use the Treasury name opened in Torrance , Buena Park , and Orange, California on October 29, 1970. The two long-awaited south Florida stores opened in Hialeah and Hollywood on March 4, 1971, and three stores in

4697-459: The surname(s) of the sole trader or partners, or the legal name of a company. The Companies Registration Office publishes a searchable register of such business names. In Japan , the word yagō ( 屋号 ) is used. In Colonial Nigeria , certain tribes had members that used a variety of trading names to conduct business with the Europeans. Two examples were King Perekule VII of Bonny , who

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4774-469: The term trade name to refer to "doing business as" (DBA) names. In most U.S. states now, however, DBAs are officially referred to using other terms. Almost half of the states, including New York and Oregon , use the terms assumed business name or assumed name ; nearly as many, including Pennsylvania , use the term fictitious name . For consumer protection purposes, many U.S. jurisdictions require businesses operating with fictitious names to file

4851-722: The time was the country's fifth-largest catalog merchant. A merger proposal was agreed upon in December 1961, with GMC’s acquisition approved in February 1962. The small chain, at this point only numbering five stores in Wisconsin, would announce plans in March 1967 to enter the Atlanta, Georgia market in its first expansion. Three stores in Forest Park , Doraville , and Marietta would open simultaneously on May 29, 1968, with

4928-708: The two, JCPenney also opened smaller stores under the JCPenney Collections name in a few malls such as Plaza Blok M . 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 also exiting

5005-496: The work of Milwaukee architect Jordan A. Miller, was unique, having utilized a zig-zag pattern that was very prominent both inside and outside. Because of this, the store's merchandise was advertised as being "under the squiggly roof" well into the 1970s. In 1961, J.C. Penney was looking to break into the catalog business, and after failing to reach an agreement with Aldens in October, looked to acquire General Merchandise, who at

5082-504: 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 also 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

5159-496: Was announced that 21 stores, including the "Mother Store" in Kemmerer, Wyoming , would be auctioned off as part of the proceedings. 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. It had been established that once

5236-410: 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 350,000 square feet (33,000 m) 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. That year, the company adopted

5313-553: Was known as Captain Pepple in trade matters, and King Jubo Jubogha of Opobo , who bore the pseudonym Captain Jaja . Both Pepple and Jaja would bequeath their trade names to their royal descendants as official surnames upon their deaths. In Singapore , there is no filing requirement for a "trading as" name, but there are requirements for disclosure of the underlying business or company's registered name and unique entity number. In

5390-469: 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 261,500 square feet (24,290 m). It was the largest JCPenney until a 300,000-square-foot (28,000 m) store

5467-605: 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

5544-521: Was paired with news that the retailer had suffered a 4% decline in same-store sales during the 2018 holiday quarter. 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. 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

5621-809: Was sold to where the current Toyota North America headquarters is now located. 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. On March 17, JCPenney released a list of 138 locations that would close by the end of June. 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 . In an effort to capitalize on self-deprecating humor and improve its reputation, JCPenney collaborated with Nicole Richie and other designers to open

5698-712: Was the first time shares fell below $ 1 ever 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. 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. 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

5775-544: Was the main reason for J.C. Penney's acquisition of Treasure Island, remains a thriving, multibillion-dollar endeavor. In 1979, The Home Depot chain subsequently launched its first four stores in these former Treasure Island storefronts (which it shared with Zayre ) around the Atlanta area , as the home improvement chain was growing around the same time that many Treasure Island stores were already closing. The company branched out into drug stores, located in many Southern states, as Treasury Drug . Treasury Drug survived into

5852-410: Was their CCO. 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. On January 19, 2020, JCPenney announced plans to close six stores. 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

5929-425: Was using " spamdexing " techniques to manipulate Google search rankings. Google reduced the company's visibility, and JCPenney fired its search engine consultant. In June 2011, Ron Johnson , former head of Apple's retail division, became JCPenney's CEO. That same year, the company sold its 15 remaining catalog outlets to SB Capital Group, converting them into JC's 5 Star Outlets. In December 2011, JCPenney purchased

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