---
schema_version: "secwatch.filing_event.v1"
accession: "0001837671-26-000049"
form_type: "8-K"
ticker: "CPPTL"
cik: "0001837671"
company_name: "Copper Property CTL Pass Through Trust"
filed_at: "2026-07-06T21:26:31+00:00"
generated_at: "2026-07-06T21:28:14.811145+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# JCPenney FY2025: Adjusted EBITDA $168M, debt-free, margin down 150 bps

## Summary
- Adjusted EBITDA of $168M vs $172M prior year; net cash from operations $180M, up $72M.
- No long-term debt outstanding after capital contribution extinguished ABL FILO and Term Loan.
- Gross margin declined ~150 bps due to tariffs, category mix, and increased promotions.
- SG&A decreased $226M including one-time Visa litigation settlement; restructuring costs $107M.
- Launched Nike in 175 stores; 'Really Big Deals' outperformed plan by 8% in Q4.

## SEC filing metadata
- accession: 0001837671-26-000049
- form_type: 8-K
- ticker: CPPTL
- cik: 0001837671
- company_name: Copper Property CTL Pass Through Trust
- filed_at: 2026-07-06T21:26:31+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1837671/000183767126000049/0001837671-26-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1837671/000183767126000049/cpt-20260706.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001837671-26-000049
- JSON: https://secwatch.observer/filing/0001837671-26-000049.json
- Plain text: https://secwatch.observer/filing/0001837671-26-000049.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.