Analyst weighs in on J.C. Penney’s agreement to sell retail business to Simon Property Group and Brookfield Property Partners

J.C. Penney Co. Inc. recently announced that it reached an agreement to sell its retail and operating assets to Brookfield Property Group and Simon Property Group for $1.75 billion. Bloomberg Senior Retail Analyst Poonam Goyal said that this was certainly better than the Plano, Texas-based department chain liquidating. 

“From multiple angles, if you think about the business itself, JCPenney still has a solid customer base,” she said. “It’s just they were too big. They were in too many malls,…