JCPenney Merges with Aéropostale Owner to Form Catalyst Brands

Reported about 21 hours ago

JCPenney has finalized a merger with SPARC Group, the owner of Aéropostale, Brooks Brothers, and Lucky Brand, creating a new entity called Catalyst Brands. This company boasts an annual revenue of $9 billion and operates 1,800 stores, while also managing several JCPenney-owned brands. Catalyst Brands has recently divested U.S. Reebok operations and is looking into strategies for Forever 21, following JCPenney's delisting from the NYSE after declaring bankruptcy in 2020.

Source: YAHOO

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