First Look: JCPenney opens its first new store in eight years
The new store is part of Penney’s ambitious plan revive its iconic but ailing 121-year-old department store business. In August 2023, the retailer announced that it planned to spend more than $1 billion by the end of 2025 to remodel its stores, upgrade its online experience and improve its supply chain capabilities to deliver online orders faster.
To make the in-store experience more inviting and productive, JCPenney said its stores were undergoing varying updates, including enhanced store look and feel, improved technology and associate tools and physical upgrades. As of August 2023, more than 100 stores had already been refreshed, the retailer said.
Penney, which emerged from bankruptcy in late 2020 under new owners Brookfield Asset Management and Simon Property Group, currently operates 650-plus stores across the U.S. and Puerto Rico.