[Federal Register Volume 62, Number 53 (Wednesday, March 19, 1997)]
[Notices]
[Page 13156]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-6915]


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FEDERAL TRADE COMMISSION
[Dkt. C-3721]


J.C. Penney Company, Inc., et al.; Prohibited Trade Practices, 
and Affirmative Corrective Actions

agency: Federal Trade Commission.

action: Consent order.

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summary: In settlement of alleged violations of federal law prohibiting 
unfair or deceptive acts or practices and unfair methods of 
competition, this consent order requires, among other things, J.C. 
Penney and Thrift Drugs, its wholly-owned subsidiary, to divest by 
March 21, 1997, to a Commission-approved acquirer, a total of 161 drug 
stores in North and South Carolina. The consent order settles 
allegations that J.C. Penney's proposed acquisition of Eckerd 
Corporation, and 190 Rite Aid drug stores in these two states, violated 
antitrust laws by substantially reducing drug store competition.

dates: Complaint and Order issued February 28, 1997.\1\

    \1\ Copies of the Complaint and the Decision and Order are 
available from the Commission's Public Reference Branch, H-130, 6th 
Street & Pennsylvania Avenue, N.W., Washington, D.C. 20580.
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for further information contact: George Carey, FTC/H-374, Washington, 
D.C. 20580. (202) 326-3741.

supplementary information: On Monday, December 16, 1996, there was 
published in the Federal Register, 61 FR 66041, a proposed consent 
agreement with analysis In the Matter of J.C. Penney Company, Inc., et 
al., for the purpose of soliciting public comment. Interested parties 
were given sixty (60) days in which to submit comments, suggestions or 
objections regarding the proposed form of the order.
    No comments having been received, the Commission has ordered the 
issuance of the complaint in the form contemplated by the agreement, 
made its jurisdictional findings and entered an order to divest, as set 
forth in the proposed consent agreement, in disposition of this 
proceeding.

(Sec. 6, 38 Stat. 721; 15 U.S.C. 46. Interpret or apply sec. 5, 38 
Stat. 719, as amended; sec. 7, 38 Stat. 731, as amended; 15 U.S.C. 
45, 18)
Benjamin I. Berman,
Acting Secretary.
[FR Doc. 97-6915 Filed 3-18-97; 8:45 am]
BILLING CODE 6750-01-M