J. C. Penney Company was created in 2002 as a holding company for department store operator J. C. Penney Corporation, its wholly owned subsidiary, which exchanged the "Company" in its 89-year-old moniker for "Corporation" after the holding company was formed. J. C. Penney Corporation is one of the largest department store, catalog, and e-commerce retailers in the US. In 2004 J. C. Penney Company sold its Eckerd drugstores chain to The Jean Coutu Group and CVS for $4.5 billion in cash. The retailer runs more than 1,000 JCPenney department stores throughout the US and Puerto Rico. In 2005 J. C. Penney sold its controlling stake in the 62-unit Lojas Renner chain in Brazil through a public stock offering.
- Myron E. (Mike) Ullman, III
- CEO
Sector: Services
Industry: Retail
