J. C. Penney Company, Inc.

Plano, TX United States

  (NYSE: JCP)

Company Description

J. C. Penney Company is a holding company for department store operator J. C. Penney Corporation, one of the largest department store, catalog, and e-commerce retailers in the US with more than 1,100 JCPenney department stores in 49 states and Puerto Rico. J. C. Penney Corp., its only subsidiary, was founded in 1902 by James Cash Penney. The company sold its Eckerd drugstore chain to The Jean Coutu Group and CVS for $4.5 billion in cash in 2004. Penney is exiting its legacy mail-order business and expanding its online presence. The department store chain welcomed a new CEO, former Apple stores chief Ron Johnson, in late 2011. J. C. Penney Company was formed in 2002 and is the publicly traded entity.