JCPenney

JCPenney (legally Penney OpCo LLC; abbreviated JCP and colloquially Penney's) is an American department store chain founded in 1902 by James Cash Penney. It is owned by Catalyst Brands, a joint venture between Authentic Brands Group, Brookfield Corporation, Shein, and Simon Property Group, since 2025. JCPenney originated as a group of dry goods stores that 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, later joined by Authentic Brands Group as a minority owner. In January 2025, JCPenney was combined with SPARC Group—Simon and Authentic's portfolio of legacy retail brands—to form Catalyst Brands. Its departments include men's, women's and children's apparel, cosmetics, jewelry, and home furnishings along with leased departments managed by Shearshare, US Vision and Lifetouch. The chain focuses on lifestyle products for middle class households.