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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Sparc Group, the operator of fashion brands including Lucky, Eddie Bauer, Aeropostale, Forever 21 and Brooks Brothers, has merged with JCPenney to form a new company called Catalyst Brands, according to a release Wednesday afternoon.