---
schema_version: "secwatch.filing_event.v1"
accession: "0001837671-26-000057"
form_type: "8-K"
ticker: "CPPTL"
cik: "0001837671"
company_name: "Copper Property CTL Pass Through Trust"
filed_at: "2026-07-09T20:16:45+00:00"
generated_at: "2026-07-09T20:18:12.270877+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# JCPenney Q1 net sales $1.25B, operating loss $62M; store EBITDAR $27.8M

## Summary
- Net sales $1,249M, down 4.6% YoY from $1,309M; net loss $65M vs $69M prior year.
- Operating loss widened to $62M from $52M; gross margin pressured by tariffs, mix, and promotions.
- Master lease store portfolio: 117 properties, 15.5M sq ft; Q1 EBITDAR $27.8M, rent coverage 0.9x.
- No long-term debt outstanding vs $468M a year ago; $0.3B available under $1.75B revolver.
- Company expects significant IEEPA tariff refunds in FY2026, none yet recorded.

## SEC filing metadata
- accession: 0001837671-26-000057
- form_type: 8-K
- ticker: CPPTL
- cik: 0001837671
- company_name: Copper Property CTL Pass Through Trust
- filed_at: 2026-07-09T20:16:45+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1837671/000183767126000057/0001837671-26-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1837671/000183767126000057/cpt-20260709.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001837671-26-000057
- JSON: https://secwatch.observer/filing/0001837671-26-000057.json
- Plain text: https://secwatch.observer/filing/0001837671-26-000057.txt

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