JCPenney reopens corporate headquarters in Plano (2024)

FAQs

Did JCPenney signal stability with move back into old Plano headquarters? ›

PLANO — JCPenney has moved back into its former headquarters in Plano and the permanent sign at the Legacy Drive entrance says JCPenney again. The retailer was one of the first companies to identify Plano as a corporate headquarters city when it decided to leave New York in 1987.

JCPenney Corporate Headquarters Return to Campus at Legacy West in Plano. PLANO, Texas (July 20, 2023) – JCPenney announced today the reopening of its new corporate offices at the Campus at Legacy West (CALWest).

JCPenney is headquartered in Plano, TX.

JCPenney is an iconic American retail company and key anchor store in shopping malls across the United States. JCPenney traces its origins back to April 14, 1902, when founder James Cash Penney and his partners opened the Golden Rule dry goods store in Kemmerer, Wyoming.

JCPenney has around 670 stores today and has little debt for the first time in years. The company is owned by mall landlords Simon Property Group (SPG) and Brookfield Asset Management (BAM). The two firms rescued JCPenney out of bankruptcy for $1.75 billion in the fall of 2020.

Graze Inc., an autonomous lawnmower company, is the latest addition, announcing its move to Plano on Jan. 11. CCIntegration, Fisher Investments, SK Signet and QuickFee, among others, opened headquarters in the city last year.

Construction on the new company headquarters in Plano, Texas broke ground in 1990 and were completed in 1992. After Sears closed its catalog business in 1993, J. C. Penney became the last catalog retailer in the United States.

JCPenney has struggled with financial issues for years, including declining sales and mounting debt. These financial issues made it difficult for the company to invest in its stores and compete with other retailers.

Macy's is a publicly traded company, beholden to stakeholders including investors, employees and customers; J.C. Penney has been private since being purchased out of bankruptcy four years ago by Simon Property Group and Brookfield Asset Management; since then, brand management firm Authentic Brands Group has acquired ...

Certainly there's lots to consider. I mean, both companies Macy's and JCPenney's both century-old companies. Macy's 165 years old, JCPenney's 121 years old. Now, both department stores really faced woes during the pandemic when e-commerce began to boom.

Who is the original owner of JCPenney? ›

JCPenney was founded in Kemmerer, Wyoming, in 1902 by James Cash Penney. The first store, named The Golden Rule, set the standard by which we have operated for over a century – to treat others as we would like to be treated.

With the exception of certain private brand window coverings, JCPenney does not manufacture any of the products that we sell. For our private brand merchandise, we source from suppliers that operate in or import from over 30 countries.

JCPenney has struggled with financial issues for years, including declining sales and mounting debt. These financial issues made it difficult for the company to invest in its stores and compete with other retailers.

J.C. Penney's retail arm was acquired through the bankruptcy court by Brookfield Asset Management and Simon Property Group. J.C. Penney emerged from bankruptcy in December 2020 with new owners, less debt and about 200 fewer stores.

JCPenney unveils plans for $1 billion remodeling of stores and website upgrade. JCPenney said Thursday it plans to spend more than $1 billion by the end of 2025 in a bid to revive the storied but troubled 121-year-old department store chain.