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

The joint venture brings together Sparc Group’s Aeropostale, Brooks Brothers, Eddie Bauer, Lucky Brand and Nautica with JCPenney and its private brands.

JCPenney is merging with a retail company with household names to form a new one based in Plano. The longtime local retailer and Sparc Group announced they have combined to form Catalyst Brands and will cover several brands: Aéropostale,

JCPenney and retail store operator Sparc are merging to form a U.S. retailing behemoth called Catalyst Brands. Why it matters: The new company's owners comprise a consortium of so

JCPenney announced Thursday the company merged with SPARC Group, to form a larger retail organization called Catalyst Brands.

JCPenney is merging with a company that owns several other retailers that have also struggled as malls have declined in popularity across the U.S. The 123-year-old department store chain and SPARC Group have combined to form Catalyst Brands,