JC Penney Opens Its First New Store In Willowbrook Mall [Forbes]
Brookfield Property Partners L.P. - 6.50% Class A Cumulative Redeemable Perpetual Preferred Units (BPYPP)
Company Research
Source: Forbes
It is a mini-store at 65,000 square feet – much smaller than the 100,000 square foot store the company opened before it entered into bankruptcy in May 2020. The company reentered a mall it left during its financial trouble, but instead of reclaiming their old building, the company now occupies a vacant Lord & Taylor building. Much has changed since the Simon Property Group SPG and Brookfield Property Partners acquired JC Penney and reduced the debt from about $5 billion to about $500 million. The company has initiated a “refresh” plan with new adjacencies and an emphasis on many more displays, especially mannequins which enables management to display more fashion merchandise. About $1 billion has been allocated for the refresh plan and it will include other stores. Among the changes made under the direction of Michelle Wlaslo, General Merchandise Manager of the company since 2019, are coordinated adjacencies. For instance, beauty and the beauty salon coordinate their offerings a
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BPYPP
Sec Filings
- 4/11/24 - Form 6-K
- 3/4/24 - Form 6-K
- 3/1/24 - Form 20-F
- BPYPP's page on the SEC website