Sparc Group, the parent company of Forever 21 and Aéropostale, announced it merged with JCPenney to create a new company called Catalyst Brands.

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JCPenney has 50,000 employees, with over 650 stores in the U.S. and Puerto Rico. In 2022, the retailer celebrated its 120th Anniversary. Sparc Group operates retail stores, shop-in-shops, and ...

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