JCPenney NNN Properties for Sale
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| JCPenney | |
| Formerly | J. C. Penney Company, Inc. |
| Type | Private company |
| NYSE: JCP (1927–2020) OTC Pink: JCPNQ (May 2020–January 2021) OTC Pink: CPPRQ (as Old COPPER Company, Inc, January–February 2021) | |
| Industry | Retail |
| Founded | April 14, 1902 Kemmerer, Wyoming, U.S. (J. C. Penney Company) October 29, 2020[citation needed] (Penney IP, LLC) |
| Founders | James Cash Penney William Henry McManus (J. C. Penney Company, Inc.) |
| Headquarters | Plano, Texas[1], U.S. |
Number of locations | Store Locator: 667 stores across 49 U.S. states and Puerto Rico |
Area served | United States |
Key people | Ronald Tysoe (Chairman) Marc Rosen (CEO) Michelle Wlazlo (CMO) Shawn Gensch (CCO) |
| Products |
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| Revenue |  US$11.167 billion (2019) |
| US$−8 million (2019) | |
| US$−268 million (2019) | |
| Total assets | US$5.900 billion (2021) |
| Total equity | US$829 million (2019) |
| Owners | Simon Property Group, Brookfield Asset Management |
Number of employees | 60000 (Aug. 2021)[2][3] |
| Website | jcpenney |
| Footnotes / references [4][5][6][7] | |
The J. C. Penney Company, which is doing business as JCPenney, is a chain of department stores. The company was founded on April 14, 1902 at Kemmerer, Wyoming, The United States. They are currently operating in 1,014 locations in 49 U.S. states and Puerto Rico. JCPenney stores often house several leased departments such as Sephora, salons, Seattle’s Best Coffee, portrait studios, optical centers, jewelry repair along with the conventional merchandise.JCPenney – One of the oldest and most reliable retailers in the US
Current Market Value
JCPenney is featured in the list of Fortune 500 by the Fortune Magazine for the past 22 years. They ranked #228 in the year 2016. Lately around 105,000 employees are working for the firm. They have reported a US$ 12,625 million revenue in 2016. Their assets summed to US$ 9,442 million in the same year. As on March 3, 2016 the company’s market value was US$ 3,394 million.
The department store thought it would amount to about 5% of sales, but says it is now running in the high single digits. The department store chain recorded large gains in customers last year. This is because the company returned to its roots of the doorbuster sale. Their gross margins have surged 710 basis points to 36.6% from last year. The retailer expects there to be a 500- to 600-basis-point improvement for the full year as a result.
History
During its incorporation, three partners, one among them being James Cash Penney jointly operated the company under the name The Golden Rule stores. Later in 1907, the other two partners dissolved their partnership, after which Penney gained authority over all the stores. By 1912, James operated 34 stores, in the Rocky Mountain States, and by 1913 all these stores were consolidated under the name ‘The JCPenney Company’. It operated in all the 48 states through 1600 stores by the year 1941.
The company witnessed the peak of its growth and success between the period 1960 to 1979. Acquisitions and the Internet stores are the landmarks in the company’s history between 1980 to 1999. The next decade (2000-2009) proved to be another golden era for the company, during which it flourished due to immense growth and success. Currently the company is trying to shore up its growth after the declining it faced in the first half of this decade.
Operations
The majority of JCPenney stores is located in suburban shopping malls. Prior to 1966, most of its stores were located in downtown areas. As shopping malls, culture became popular during the latter half of the 20th century, the company followed the trend by relocating and developing stories to anchor the malls. In the recent years, the chain has continued to follow consumer traffic, echoing the retailing trend of opening some freestanding stores. The company has taken a bold step by including some of its stores next door to competitors. Certain stores are located in power centers. The company has started to offer Internet retailing since 1998. It has streamlined its catalog and distribution while undergoing renovation improvements at store level. JCPenney is one among the leading retailers in the sales of products such as clothing, cosmetics, electronics, footwear, furniture, housewares, jewelry and appliances.
Sephora, The makeup and beauty supply outlet has been a beneficial partnership since it began. It has continued to deliver double-digit growth, drive traffic and generate significant customer loyalty for the company. Even though J.C. Penney’s bottom line still sports red ink, the company maintains that it will be free cash flow positive by the end of the year. By the virtue of positive free cash flow J.C. Penney will become more flexible in its options going forward and solidify its fragile financial state. These are the reason the analysts have given a thumbs for those who looking to invest in the JCPenney shares.
