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About JC Penney:
J. C. Penney Company, Inc. (NYSE: JCP) is a chain of American mid-range department stores based in Plano, Texas, a suburb north of Dallas. The company operates 1,107 department stores in all 50 U.S. states [2] and Puerto Rico.[3] JCPenney also operates catalog sales merchant offices nationwide in many small markets.
Most JCPenney stores are located in suburban shopping malls. Previously, most stores were located in downtown areas. As shopping malls became more popular in the latter half of the 20th century, JCPenney followed the trend by relocating its stores to anchor the malls. In more recent years, the chain has continued to follow consumer traffic, echoing the retailing trend of opening some standalone stores, including some next door to competitors. Certain stores are located in power centers and can be considered big-box stores. The company has been an Internet retailer since 1998. It has streamlined its catalog and distribution while undergoing renovation improvements at store level.
In addition to selling conventional merchandise, JCPenney stores often house several leased departments such as Sephora, Optical, Portrait Studiosand Jewelry & Watch repair. JCPenney also features discount outlet stores. Some of these were converted from regular JCPenney stores.
In 2007, JCPenney launched the Ambrielle lingerie label, and it became their largest private brand launched in JCPenney history.[8] JCPenney also re-introduced cosmetics with the opening of Sephora“stores-within-a-store” inside some JCPenney locations. Beginning in 2007 the store slogan changed from “It’s All Inside” to “Every Day Matters”; the new slogan and associated ad campaign was launched in television commercials during the 79th Academy Awards in late February 2007.
After JCPenney sold off Eckerd in 2004, the locations that continued to operate as Eckerd(some locations in the Southern U.S. were sold to CVS Corporation) still had JCPenney Catalog Centers inside the stores (which was a carryover from locations that were once Thrift Drug) and also continued to accept JCPenney credit cards. After Rite Aid finalized its acquisition of Eckerd in 2007, the Catalog Centers inside the soon-to-be-converted Eckerd stores permanently closed, although as a result of the acquisition, Rite Aid now accepts JCPenney credit cards, even at Rite Aid locations that existed before the takeover of Eckerd.
In November 2007, the company launched a new public website, JCPenneyBrands.com, which covers the company’s private and exclusive brands, and their branding strategy, with a preview of an upcoming product line. In February 2008, the company launched the “American Living” brand, as developed by Ralph Lauren, across several product lines, including Men’s, Women’s, and Children’s Apparel and Shoes, Intimate Apparel, and Home. The launch, which was accompanied by an ad campaign during the 2008 Academy Awards, was the company’s largest private brand launch.[9] American Living for infant apparel was launched in July 2008. In the summer of 2008, JCPenney also added a new brand to its home collection, “Linden Street.” The Linden Street brand features a contemporary lifestyle collection of furniture, domestics, and home decor. Linden Street is sold exclusively in JCPenney stores and through their website. Other new exclusive brands for junior’s and young men’s were launched in the summer of 2008, including Le Tigre, Decree, and Fabulosity, a junior line of clothing by Kimora Lee Simmons.
In June 2008, an ad called “Speed Dressing” emerged ending with the JCPenney logo and slogan “Every Day Matters”. The ad won a prize at the Cannes Lions International Advertising Festival. The ad was criticized for seeming to promote teen sex. JCPenney denied that the ad was theirs and their advertising agency Saatchi & Saatchi reported that it had been created by a third party vendor. It was entered in the competition by Epoch Films, who declined to comment.[10][11] Marketing expert John Tantillo advised that the company distance itself from the commercial and also shed the publicity it engendered.[12]
In July 2009, new additions were made to the JCPenney young men’s department, including an expansion of their private brand Decree (previously exclusively a juniors clothing line) and the introduction of more skate/surf-oriented clothing, including Rusty, RS by Ryan Sheckler, and 3rd Rail. In August 2009, Albert Gonzalez’s defense lawyer announced that JCPenney was a victim of the computer hacker, although JCPenney stated that no customers’ credit card information had been stolen.[13] In September 2010, JCPenney had joined Facebook to help promote their “Care, Share, Win” campaign. Since 1999, JCPenney has donated $100 million to after school care. Fans of JCPenney on Facebook can help decide which school will receive the next million dollars. Fee simple single tenant JC Penney triple net lease for 1031 exchange.
On January 24, 2011, J. C. Penney announced it will exit the catalog business and close all 19 of its catalog outlet stores.[14] An additional seven stores, two call center facilities, and one customer decorating facility will also be closed.[14]
On February 12, 2011, The New York Times exposed the use of link schemes, i.e. Spamdexing, to promote the JCPenney web site in Google search results[15]. JCPenney denied involvement, but fired its search engine consulting firm, SearchDex [16]. Fee simple single tenant JC Penney triple net lease for 1031 exchange. Single tenant JC Penney nnn lease property for 1031 exchange.
