JCPenney has completed a transfer of pension risk to annuities provider Athene Holdings that ensures the bankrupt retailer’s retired employees will continue to receive their benefits. ET, Feb. 26, 2015 – JCPenney Reports $1.1 Billion Increase in EBITDA for Fiscal 2014, Feb. 10, 2015 – J.C. Penney Company, Inc. to Report Fourth Quarter 2014 Financial Results on February 26, 2015 at 4:00 p.m. ET. Additional Information Furthermore, use of any and all images or video appearing on this page must each include the notice “Image and video courtesy of JCPenney.” Use of materials copied from this website are at your own risk. Advisers ©2021 Penney IP LLC. ET, Jan. 4, 2018 – JCPenney Provides Holiday Sales Performance Update, Nov. 10, 2017 – JCPenney Reports a 1.7 Percent Increase in Comparable Sales for the Third Quarter 2017, Oct. 27, 2017 – JCPenney Provides Update on Third Quarter 2017 Performance, Aug. 11, 2017 – JCPenney Reports a 1.5 Percent Increase in Total Net Sales for the Second Quarter 2017, Aug. 1, 2017 – J. C. Penney Company, Inc. to Report Second Quarter 2017 Financial Results on August 11, 2017 at 7:30 a.m. ... the company said in a news release. The Company’s asset purchase agreement (“APA”) with Simon, Brookfield and the Company’s DIP and First Lien Lenders (“First Lien Lenders”), supported by the Unsecured Creditors Committee, had previously been approved by the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) on November 9, 2020. “Today is an exciting day for our company, as we have accomplished our goal of putting JCPenney on a secure path for the future as a private company so that we can continue to serve our loyal customers,” said Jill Soltau, Chief Executive Officer of JCPenney. By downloading an image or video appearing in the newsroom, you understand and agree, and hereby represent that: (1) you are either a student of an accredited primary, secondary or higher education institution or a member of the news media; (2) use of the image or video is in connection with a student report, story or an article appearing in newspapers, periodicals, digital publications or television; (3) image or video and rights thereto remain the property of JCPenney; and (4) use of the image or video are not for publication covers, advertising, promotion or otherwise for commercial purposes. Provides Statement on Strategic Advisors, June 6, 2019 – J. C. Penney Company, Inc. J.C. Penney has announced the locations of 154 stores that will be closing across 38 states as it restructures after filing for bankruptcy last month.. The Texas-based retailer released a … Jan. 8, 2019 – JCPenney Reports Holiday Sales Update and Reaffirms Expectation to Deliver Positive Free Cash Flow in Fiscal 2018. The Company’s asset purchase agreement (“APA”) with Simon, Brookfield and the Company’s DIP and First … Feb. 27, 2020 – J. C. Penney Company, Inc. Reports Fourth Quarter and Full Year 2019 Financial Results, Feb. 18, 2020 – J. C. Penney Company, Inc. to Report Fourth Quarter and Fiscal Year 2019 Financial Results, Jan. 31, 2020 – J. C. Penney Company, Inc. Release Summary. Read full articles, watch videos, browse thousands of titles and more on the "JCPenney" topic with Google News. Greenville West Mall 300 Greenville W Dr, Ste 1 Greenville, MI 48838 (972) 431-5500 or jcpinvestorrelations@jcp.com. 8, 2018 – JCPenney Announces Pricing of Upsized Offering of Senior Secured Second Priority Notes, Mar. Nov. 15, 2018 – JCPenney Reports Third Quarter 2018 Financial Results, Nov. 6, 2018 – J. C. Penney Company, Inc. to Report Third Quarter Financial Results on November 15, 2018 at 7:30 a.m. The PropCos are expected to complete the Court-supervised restructuring process and emerge from Chapter 11 bankruptcy protection in the first half of 2021. Grants Previously Disclosed Equity Inducement Award to Steve Whaley, April 15, 2019 – UPDATED 4/15/2019: J. C. Penney Company, Inc. Media Relations: “This is exactly the type of investment our Retail Revitalization Program was designed to make and along with our partner Simon we have a successful blueprint in place to deploy our collective operational expertise and industry relationships to transform JCPenney through new innovations and offerings.”. By fiscal 2019, that figure had fallen to around $11 billion. April 2, 2021. This article originally appeared on St. Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. PLANO, Texas (Dec. 7, 2020) – JCPenney today announced that it has completed its previously announced sale, under which Simon Property Group (“Simon”) and Brookfield Asset Management, Inc. (“Brookfield”) have acquired substantially all of JCPenney’s retail and operating assets (“OpCo”). J. C. Penney Company, Inc. (doing business as JCPenney and abbreviated JCP) is a midscale American department store chain with 689 locations in 49 U.S. states and Puerto Rico. 8, 2018 – J. C. Penney Commences Tender Offers for 8.125% Senior Notes due 2019 and 5.65% Senior Notes due 2020, Mar. All rights reserved. But, department stores have been struggling for years. It joins Macy's and Nordstrom. This includes a new ABL Facility, which was led by Wells Fargo, and the recently funded FILO Facility, on which Pathlight Capital (“Pathlight”) is serving as the FILO Agent. Throughout the 2020 holiday season and beyond, we remain focused on implementing our Plan for Renewal to Offer Compelling Merchandise, Drive Traffic, Deliver an Engaging Experience, Fuel Growth and Build a Results-Minded Culture.”, “We have always been firm believers in JCPenney, and are very pleased to help preserve this iconic institution and save tens of thousands of jobs,” said David Simon, Chairman, Chief Executive Officer and President of Simon Property Group. In addition, on November 24, 2020, the Court approved the Company’s Plan of Reorganization to create separate property holding companies (“PropCos”) comprising 160 of the Company’s real estate assets and all of its owned distribution centers, which will be owned by the Company’s DIP and First Lien Lenders. Grants Previously Disclosed Equity Inducement Award to Bill, April 11, 2019 – J. C. Penney Company, Inc. JCPenney 125 S Michigan Ave Big Rapids, MI 49307 231-796-3538 CLOSED. ET, June 18, 2015 – JCPenney President & CEO-Designee Marvin Ellison to Present at Oppenheimer Consumer Conference, June 12, 2015 – J.C. Penney Company Grants Previously Disclosed Equity Inducement Award to Andrew Drexler, June 8, 2015 – JCPenney CEO Mike Ullman and President & CEO-Designee Marvin Ellison to Present at Piper Jaffray Consumer Conference, May 13, 2015 – JCPenney Reports a $168 Million Increase in EBITDA for the First Quarter of Fiscal 2015 and Raises Guidance for the Fiscal Year, May 5, 2015 – J.C. Penney Company, Inc. to Report First Quarter 2015 Financial Results on May 13, 2015 at 4:00 p.m. Grants Equity Inducement Award to Shawn Gensch, May 21, 2019 – JCPenney Reports First Quarter 2019 Financial Results, May 8, 2019 – J. C. Penney Company, Inc. to Report First Quarter 2019 Financial Results on May 21, 2019 at 7:00 a.m. You must obtain prior written consent from JCPenney or its affiliate(s) for uses that exceed the above parameters. Now, the company will close an additional 13 stores and noted that this is part of their “store optimization strategy.” ET, July 24, 2017 – JCPenney Accepts Apple Pay at Stores Nationwide, June 20, 2017 – JCPenney Announces Successful Closing of $2.35 Billion Credit Facility Refinance, May 22, 2017 – J. C. Penney Announces Successful Early Tender Offer Results, May 12, 2017 – JCPenney Reports First Quarter 2017 Financial Results and Reaffirms Full Year Guidance, May 8, 2017 – J. C. Penney Commences Tender Offers for 5.75% Senior Notes due 2018 and 8.125% Senior Notes due 2019, May 5, 2017 – J. C. Penney Company, Inc. J.C. Penney piled on to U.S. department store chains' holiday sales declines, saying its same-store sales over a nine-week period that ended on Jan. 4 dropped 7.5%. JC Penney CEO Jill Soltau to leave retailer after emerging from bankruptcy with new owners msn.com - December 30 at 6:50 PM: JCPenney Charts a Fresh Course and Initiates a Search for a New Chief Executive Officer benzinga.com - December 30 at 6:50 PM: J.C. Penney starts search for new CEO as Soltau to exit reuters.com - December 30 at 6:50 PM With the completion of the sale, JCPenney has access to approximately $1.5 billion of new financing. There can be no assurances that the Company will achieve expected results, and actual results may be materially less than expectations. PLANO, Texas , May 08, 2019 (GLOBE NEWSWIRE) -- J. C. Penney Company, Inc. (NYSE: JCP) announced today that it will release its first quarter 2019 financial results on … JCPenney cited the coronavirus pandemic as a major catalyst behind its bankruptcy filing. In addition to selling conventional merchandise, JCPenney offers large Fine Jewelry departments, The Salon by InStyle, and Sephora inside JCPenney. 1 min read LONG ISLAND, NY — Department store giant JCPenney will close 242 of its stores over the next two years, according to reports published Monday. (972) 431-3400 or jcpnews@jcp.com; Follow us @jcpnews, Meaghan Repko / Jed Repko / Dan Moore J.C. Penney is the latest department store to announce it is temporarily closing all stores in response to coronavirus. Any forward-looking statement made by the Company in this Current Report on Form 8-K is based only on information currently available to it and speaks only as of the date on which such statement is made. 2, 2018 – JCPenney Fourth Quarter and Fiscal 2017 Earnings Exceeded Expectations, Feb. 15, 2018 – J. C. Penney Company, Inc. to Report Fourth Quarter and Full Year 2017 Financial Results on March 2, 2018 at 7:30 a.m. ET, June 8, 2016 – JCPenney CEO Marvin Ellison to Present at Piper Jaffray Consumer Conference, June 1, 2016 – JCPenney Announces Plans to Refinance $2.25 Billion Real Estate Term Loan, May. Additional information regarding JCPenney’s financial restructuring is available at jcprestructuring.com. Find the latest press releases from JC Penney Co (JCPNQ) at Nasdaq.com. At every touchpoint, customers will discover stylish merchandise at incredible value from an extensive portfolio of private, exclusive and national brands. Those risks and uncertainties include, but are not limited to, risks attendant to the bankruptcy process, including the Company’s ability to obtain court approval from the Bankruptcy Court with respect to motions or other requests made to the Bankruptcy Court throughout the course of the Chapter 11 Cases; the ability of the Company to negotiate, develop, confirm and consummate a plan of reorganization; the effects of the Chapter 11 Cases, including increased legal and other professional costs necessary to execute the Company’s reorganization, on the Company’s liquidity (including the availability of operating capital during the pendency of the Chapter 11 Cases), results of operations or business prospects; the effects of the Chapter 11 Cases on the interests of various constituents; the length of time that the Company will operate under Chapter 11 protection; risks associated with third-party motions in the Chapter 11 Cases; Bankruptcy Court rulings in the Chapter 11 Cases and the outcome of the Chapter 11 Cases in general; conditions to which any debtor-in-possession financing is subject and the risk that these conditions may not be satisfied for various reasons, including for reasons outside the Company’s control; the ability of the parties to the Asset Purchase Agreement to consummate the transactions contemplated therein; general economic conditions, including inflation, recession, unemployment levels, consumer confidence and spending patterns, credit availability and debt levels; changes in store traffic trends; the cost of goods; more stringent or costly payment terms and/or the decision by a significant number of vendors not to sell the Company merchandise on a timely basis or at all; trade restrictions; the ability to monetize non-core assets on acceptable terms; the ability to implement the Company’s strategic plan, including its omnichannel initiatives; customer acceptance of the Company’s strategies; the Company’s ability to attract, motivate and retain key executives and other associates; the impact of cost reduction initiatives; the Company’s ability to generate or maintain liquidity; implementation of new systems and platforms; changes in tariff, freight and shipping rates; changes in the cost of fuel and other energy and transportation costs; disruptions and congestion at ports through which the Company imports goods; increases in wage and benefit costs; competition and retail industry consolidations; interest rate fluctuations; dollar and other currency valuations; the impact of weather conditions; risks associated with war, an act of terrorism or pandemic; the ability of the federal government to fund and conduct its operations; a systems failure and/or security breach that results in the theft, transfer or unauthorized disclosure of customer, employee or Company information; legal and regulatory proceedings; the Company’s ability to access the debt or equity markets on favorable terms or at all; risks arising from the delisting of the Company’s common stock from the New York Stock Exchange; and the impact of natural disasters, public health crises or other catastrophic events on the Company’s financial results, in particular as the Company manages its business through the COVID-19 pandemic and the resulting restrictions and uncertainties in the general economic and business environment. 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