Equity Group Picks up JCP Outlets

COLUMBUS, OHIO - Schottenstein affiliate SB Capital Group has acquired 15 JCPenney Outlet Stores from J. C. Penney Company Inc. and will rebrand them as JC's 5 Star Outlet, which will be run by Penney veteran Glen Gammons.
     Under the terms of the sale, Penney will continue to supply the outlets with overstocks and end-of-season merchandise, and SB Capital Group offered positions with the new business to all 1,600 eligible employees of the JCPenney Outlet Stores.
     Gammons, who has spent 40 years with JCP, ran the retailer's outlet division for the past 11 years. He becomes ceo of JC's 5 Star Outlet.
     "The announcement marks the culmination of our efforts to acquire a business we greatly admire. We've watched this operation for a number of years, and in doing so, could not be anything short of impressed with the business and the value offered to consumers," said Scott Bernstein, coo of SB Capital Group.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • 1200 Suppliers are Ready for You at Intertextile Shanghai

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT August 2017

See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.

See details!