[3][4] It is managed as part of the Catalyst Brands portfolio alongside other apparel retailers such as Brooks Brothers and Eddie Bauer.

JCPenney was founded in 1902 as a group of dry goods stores that James Cash Penney managed as part of the Golden Rule chain, and incorporated under his own name in 1913.

The chain struggled in the early 21st century amid the rise of internet retail and the decline of mall traffic, and stay-home measures during the COVID-19 pandemic forced it into Chapter 11 bankruptcy in May 2020.

Using money from savings and a loan, Penney joined the partnership and moved with his wife and infant son to Kemmerer, Wyoming, to start his own store.

[9] He participated in the creation of two more stores and purchased full interest in all three locations when Callahan and Johnson dissolved their partnership in 1907.

In 1909, Penney moved his company headquarters to Salt Lake City, Utah, to be closer to banks and railroads.

The Penney store at Plaza Las Américas mall in San Juan, Puerto Rico, which opened in 1968, featured three levels and 261,500 square feet (24,290 m2).

That same year, fashion designer Roy Halston, signed a six-year, $1 billion deal with JCPenney to sell a line of affordable clothing, accessories, cosmetics, and perfumes ranging in price from $24 to $200.

However, the business move paved the way for other such high-end designers to sell their products at stores of varying price ranges in the future.

Also that year, Thrift Drug began co-locating stores with Weis Markets, and acquired many former Pantry Pride properties.

)[25] On December 9, 1998, The New York Times reported JCPenney would acquire controlling interest of Lojas Renner for a little over $33 million, which increased the company's maneuvering ability with their already existing units in Chile, Mexico and Puerto Rico.

The new single-level, 94,000 sq ft (8,700 m2) store format focuses on convenience, with wider aisles and centralized checkouts.

After Rite Aid finalized its acquisition of Eckerd in 2007, the Catalog Centers inside the soon-to-be-converted stores permanently closed.

In February 2008, the company launched the American Living brand, as developed by Ralph Lauren, across several product lines.

They included a relaunch of Le Tigre, along with Decree, and Fabulosity, a junior line of clothing by Kimora Lee Simmons.

In August, Albert Gonzalez's defense lawyer announced JCPenney was a victim of a computer hacker, although the company stated that no customers' credit card information had been stolen.

[39] On February 12, 2011, The New York Times revealed that JCPenney was using "spamdexing" techniques to manipulate Google search rankings.

[46] In late 2013, JCPenney faced challenges in the stock market, issuing 84 million shares amid declining margins and a return to promotional pricing strategies.

[48] That same year, the company announced that it was liquidating its The Foundry Big & Tall Supply Co. chain of standalone clothing stores.

In January 2016, JCPenney announced plans to relaunch its business of selling major appliances to target a wave of millennials who are buying first-time homes.

[50][51] In January 2017, JCPenney sold its headquarters campus and surrounding land in Plano, Texas, to Dreien Opportunity Partners as a leaseback sale to maintain operations at the location.

[53] In February, JCPenney announced that it would shutter two distribution centers and up to 140 under-performing stores as it wrestled with disappointing sales.

[56] In an effort to capitalize on self-deprecating humor and improve its reputation, JCPenney collaborated with Nicole Richie and other designers to open a "Jacques Penne" pop-up shop in Manhattan during the 2017 holiday season.

[57][58] In 2018, the JCPenney at Plaza Palma Real in Humacao, Puerto Rico closed permanently, after Hurricane Maria devastated the store in September 2017.

[59] In May, JCPenney reported an adjusted loss of $69 million in the first quarter, even worse than Wall Street predicted, and lowered its projections for the year.

[75] On March 18, JCPenney announced all retail stores would temporarily close in response to the global COVID-19 pandemic until April 2.

[76] On May 15, 2020, JCPenney filed for Chapter 11 bankruptcy and announced that there would be an additional 242 store closings, blaming the COVID-19 pandemic for its action.

[88][89][90] On July 8, JCPenney submitted their bankruptcy exit plan to existing lenders, and also requested more time for negotiations.

[94] The company was paying $2.45 million in monthly rent at the time it sold its headquarters offices in Plano, Texas in 2017; the location was permanently vacated in November 2020.

[101] Beginning with the Marathon Hats line, JCPenney has introduced multiple private brands, partially in response to suppliers denying access to expected inventories.