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JCPenney reveals mega-merger with parent co. of Brooks Brothers, Nautica

  • JCPenney is merging with Sparc Group to create a new company called Catalyst Brands, which will influence America's malls significantly.
  • Catalyst Brands will begin with $9 billion in revenue, 1,800 stores, and 60,000 employees, as stated in a press release.
  • Marc Rosen, the CEO of JCPenney, will lead the new company, headquartered in Plano, Texas.
  • Neil Saunders noted that combining JCPenney with other brands allows for cost reduction and talent sharing.
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