Last year, the company reworked the Home Expression brand, launched the Loom + Forge modern home brand, extended its Liz Claiborne and Linden Street labels into addition home categories and introduced Fieldcrest as an exclusive brand across home.

J.C. Penney, in full J.C. Penney Corporation, Inc., formerly J.C. Penney Stores Company (1913–24) and J.C. Penney Co. (1924–68), American retail company, founded in 1902 by James Cash Penney and today engaged in marketing apparel, home furnishings, jewelry, cosmetics, and cookware.

As one of the nation's largest retailers of apparel, home, jewelry, and beauty merchandise, JCPenney has a portfolio of private and national brands of remarkable quality and exceptional value.

Under new ownership since late 2020 and now operating roughly 650 stores, the retailer has been revamping its brand assortment. In March, JCPenney launched Fieldcrest as an exclusive brand across soft home and expanded its Liz Claiborne and Linden Street home brands into additional categories.

J.C. Penney's sales have stayed relatively steady since 2021, but profits are declining. Net sales, in billions, and net income or loss, in millions, from the first quarter of 2021 to the third quarter of 2022.

JCPenney Beauty debuted in fall 2021 after the retailer's 15-year relationship with Sephora came to a contentious end in 2020, when the Sephora at Kohl's collaboration was unveiled. Sephora shop-in-shops at JCPenney have remained in place as the partners finished out their original agreement, which concludes this year.

He accepted “cash only” for his goods, rather than credit. Penney's store was successful because his customers liked the merchandise and good service. Within a year, Penney was managing two more stores. Soon, he had a one-third ownership in three stores in Wyoming.

For the full year ending in January 2023, JCPenney's net sales fell 3.4% year-over-year to $7.6 billion. Overall, department store sales dropped 1.5% over the first seven months of 2023, compared to a year ago, Census data shows.

Death of J.C. Penney and peak: 1970s JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments. However, the company was hard hit by the 1974 recession with its stock price declining by two-thirds.

Discount stores including Walmart and Target spread, stealing away JCPenney's budget-conscious customers. The company was hit hard by the Great Recession in 2008. It lost shoppers to discount stores and struggled to bring them back as the economy began to rebound.

In mid-May 2020, JCPenney filed for Chapter 11 bankruptcy, with 846 stores and 85,000 employees at the time of the filing. Being reluctant to adapt, not innovating with the market, bad innovation management etc are the major reasons behind the failure of a company.