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In November 2016, the City of Memphis officially purchased the Raleigh Springs Mall property, making way for a complete demolition and re-development of the space into a civic center. [8] The City of Memphis plans to spend approximately $32 million in capital to create a civic plaza on the space once occupied by the Raleigh Springs Mall.
JCPenney purchased the building for $55 million in 1977 (equivalent to $216 million in 2023) to serve as its new headquarters. [5] By 1978, JCPenney had moved over 5,000 employees into the building. [6] However, in 1988 JCPenney announced its intentions to move their headquarters to Dallas, leaving the building empty and up for sale.
That year, the company adopted the JCPenney style in advertising. [16] and its revenues reached $5 billion (equivalent to $37.6 billion in 2025) for the first time and catalog business made a profit for the first time. [17] JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments. [17]
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Health care jobs are in demand in 2025 — one of the top roles can pay $385,000 Read the full story
Black Friday is tomorrow which means thousands of Memphis residents will be out and about to get the discounts of the year. ... JCPenney stores will open at 5a.m. on Black Friday. The stores will ...
Ron Johnson (born October 15, 1959) is the CEO and founder of Enjoy Technology. Previously, he was CEO of JCPenney, where he led a failed effort to fundamentally reshape the retailer; senior vice president of retail operations at Apple Inc., where he developed the concept of the Apple Retail Stores and the Genius Bar; and the vice president of merchandising for Target Corporation, where he was ...
Margo's LaMode – Dallas-based women's clothing store that closed in 1996 after corporate parent underwent bankruptcy reorganization; Martin + Osa – Established in 2006 as the more mature counterpart to American Eagle Outfitters, the chain grew to 28 stores before millions in losses forced its parent company to discontinue it. The brand's ...
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