J. C. Penney Company, Inc. (conducting business as JCPenney and abbreviated JCP) can be an American department store chain with 840 spots in 49 U.S. states and Puerto Rico. Furthermore to selling conventional merchandise, JCPenney offers large SUPERB departments, The Salon by InStyle, and Sephora inside JCPenney. JCPenney stores often house several leased departments such as for example, Seattle’s Best Coffee, optical centers, and portrait studios.
Most JCPenney stores are found in suburban stores. Before 1966, almost all of its stores were found in downtown areas. As stores became more popular through the later half of the 20th century, JCPenney commenced relocating and developing stores to anchor the malls. In newer years, the chain has continued to check out consumer traffic, echoing the retailing trend of opening some freestanding stores, including some nearby to competitors. Certain stores are positioned in power centers. The business has been an Internet retailer since 1998. It has streamlined its catalog and distribution while undergoing renovation improvements at store level.
IN-MAY 2020, JCPenney filed for Chapter 11 bankruptcy protection and in September 2020, Brookfield Property Partners and Simon Property Group agreed to acquire JCPenney for about $800 million in cash and debt.