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Encyclopedia > J.C. Penney
J. C. Penney Corporation, Inc
Type Public (NYSE: JCP)
Founded 1902 (Kemmerer, Wyoming)
Headquarters Plano, Texas, USA
Key people James Cash Penney, Founder
William Henry McManus,
Co-Founder
Myron E. Ullman, Chairman & CEO
Industry Retail
Products Clothing, footwear, furniture, jewelry, beauty products, electronics and housewares.
Revenue US$18.781 billion
Slogan "It's all inside."
Website www.jcpenney.com

J. C. Penney Corporation, Inc (NYSE: JCP; most commonly known today by the name JCPenney or simply Penney's) is a mid-range chain of American department stores based in Plano, Texas, a suburb of Dallas. The company operates 1,050 stores in all the U.S. states and Puerto Rico. Until 2004, J.C. Penney also operated Eckerd Drugs and fifty department stores in Central and South America. Image File history File links Jcpenny_logo. ... A public company is a company owned by the public rather than by relatively few individuals. ... This article is about the stock exchange itself. ... A power plant just west of Kemmerer on U.S. Highway 30 Kemmerer is a city located in Lincoln County, Wyoming. ... Nickname: An All-American City Location within the state of Texas Coordinates: County Collin County & Denton County Mayor Pat Evans Area    - City 185. ... James Cash Penney (born September 16, 1875 in Hamilton, Missouri, USA - died February 12, 1971 in New York City, USA) was a businessman and entrepreneur. ... Drawing of a self-service store. ... Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ... Image File history File links Green_Arrow_Up_(Darker). ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... Look up Slogan in Wiktionary, the free dictionary. ... A website (or Web site) is a collection of web pages, typically common to a particular domain name or subdomain on the World Wide Web on the Internet. ... The interior of a typical Macys department store. ... James Cash Penney (born September 16, 1875 in Hamilton, Missouri, USA - died February 12, 1971 in New York City, USA) was a businessman and entrepreneur. ... This article is about the stock exchange itself. ... The interior of a typical Macys department store. ... Nickname: An All-American City Location within the state of Texas Coordinates: County Collin County & Denton County Mayor Pat Evans Area    - City 185. ...      Nickname: Big D Location in the state of Texas Country United States State Texas Counties Dallas, Collin, Denton, Kaufman, and Rockwall Mayor Laura Miller Area    - City 997. ... Federal courts Supreme Court Chief Justice Associate Justices Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures State Courts Counties, Cities, and Towns Other countries Politics Portal      A state of the United States is any one of the fifty subnational entities referred to... Eckerd is a drug store chain with more than 1,549 stores in more than 13 states across the Mid-Atlantic and New England portions of the United States. ... Anthem: Himno Nacional Mexicano Capital (and largest city) Mexico City None at federal level Spanish (de facto) Government Federal republic  - President Vicente Fox Quesada Independence from Spain   - Declared September 16, 1810   - Recognized September 27, 1821  Area  - Total 1,972,550 km² (15th) 758,249 sq mi   - Water (%) 2. ... South America South America is a continent crossed by the equator, with most of its area in the Southern Hemisphere. ...


The company competes on an average price level on par with Sears and Kohl's. However, the company competes below Belk, Dillard's, and Macy's. Sears Holdings Corporation NASDAQ: SHLD is the third largest retailer in the United States, behind Wal-Mart and The Home Depot. ... Kohls Corporation (NYSE: KSS) is a department store chain headquartered in Menomonee Falls, Wisconsin, a suburb of Milwaukee. ... Belk, headquartered in Charlotte, North Carolina, is the United States largest privately-held department store chain. ... Dillards (NYSE: DDS), based in Little Rock, Arkansas, is a major department store chain in the United States, with 329 stores in 29 states as of 2005. ... Macys is a chain of American department stores with its flagship store in Herald Square, New York City, which has been billed as the worlds largest store since completion of the Seventh Avenue addition in 1924. ...


In addition to sale of conventional merchandise, J.C. Penney is also home to several leased departments such as Optical, Portrait Studios, Jewelry & Watch repair, etc.

Contents

History

The Golden Rule

J.C. Penney was founded in 1902 by James Cash Penney and William Henry McManus. The original name for the store that started J.C. Penney in the dry goods business was The Golden Rule, but was changed to J.C. Penney in 1913 when Penney accepted a majority ownership of the chain, William McManus still being a partner. The mother store is located in Kemmerer, Wyoming and still operates as of 2007. 1902 (MCMII) was a common year starting on Wednesday (see link for calendar). ... James Cash Penney (September 16, 1875—February 12, 1971), commonly known as J.C. Penney, was an American department store pioneer and businessman. ... Year 1913 (MCMXIII) was a common year starting on Wednesday (link will display the full calendar). ... A power plant just west of Kemmerer on U.S. Highway 30 Kemmerer is a city located in Lincoln County, Wyoming. ...


J.C. Penney Company

In 1909, J.C. Penney relocated the headquarters to Salt Lake City, Utah to be closer to banks and railroads and again in 1914 to New York City to simplify the buying, financing, and transportation of goods. By 1917, the company operated 175 stores in 22 states in the United States. In 1920, J.C. Penney acquired The Crescent Corset Company, the company's first wholly owned subsidiary. In 1922, the company's oldest active private brand, Big Mac work clothes, is launched. In 1924, the company opens it's 500th store in Hamilton, Missouri. In 1928, the company opens it's 1,000th store in Beloit, Kansas. In 1940, future billionaire and founder of Wal-Mart, Sam Walton, begins working at J.C. Penney's Des Moines, Iowa store. Sam Walton later went on to found future retail giant Wal-Mart in 1962. By 1941, the company operated 1,600 stores in all 48 states. In 1956, J.C. Penney starts nationally advertising it's store with a series of advertisements in Life Magazine. In 1959, J.C. Penney credit cards are now accepted at its stores. Year 1909 (MCMIX) was a common year starting on Friday (see link for calendar). ... Salt Lake City redirects here. ... Year 1914 (MCMXIV) was a common year starting on Thursday (see link for calendar). ... Nickname: Big Apple, Gotham, NYC Location in the state of New York Coordinates: Country United States State New York Boroughs The Bronx Brooklyn Manhattan Queens Staten Island Settled 1613  - Mayor Michael Bloomberg (R) Area    - City 1,214. ... Year 1917 (MCMXVII) was a common year starting on Monday of the Gregorian calendar (see link for calendar) or a common year starting on Tuesday of the 13-day slower Julian calendar (see: 1917 Julian calendar). ... Year 1920 (MCMXX) was a leap year starting on Thursday. ... Year 1922 (MCMXXII) was a common year starting on Sunday (link will display full calendar). ... Hamilton is a city located in Caldwell County, Missouri. ... Year 1928 (MCMXXVIII) was a leap year starting on Sunday (link will display full calendar). ... Beloit is a city located in Mitchell County, Kansas. ... Year 1940 (MCMXL) was a leap year starting on Monday (the link is to a full 1940 calendar). ... Wal-Mart Stores, Inc. ... Samuel Moore Walton (March 29, 1918 – April 6, 1992), born in Kingfisher, Oklahoma was the founder of two American retailers, Wal-Mart and Sams Club. ... Nickname: Hartford of the West, City of Skywalks, DSM Location in the State of Iowa, USA Coordinates: Country United States State Iowa County Polk County Incorporated September 22, 1851 Mayor Frank Cownie Area    - City 200. ... 1962 (MCMLXII) was a common year starting on Monday (the link is to a full 1962 calendar). ... For the movie, see 1941 (film). ... Year 1956 (MCMLVI) was a leap year starting on Sunday of the Gregorian calendar. ... A cover of Life Magazine from 1911 Life has been the name of two notable magazines published in the United States. ... Year 1959 (MCMLIX) was a common year starting on Thursday of the Gregorian calendar. ...


The Treasury, Catalog, and Full-line stores

The exterior of a typical J.C. Penney department store in the Aventura Mall in Aventura, Florida.
The exterior of a typical J.C. Penney department store in the Aventura Mall in Aventura, Florida.

In 1962, J.C. Penney entered discount merchandising with the acquision of General Merchandise Company which gave them The Treasury. J.C. Penney closed the money losing discount stores in 1981. In 1963, J.C. Penney issued its first catalog. The company operated in-store catalog desks in eight states. The catalogs were distributed by the Milwaukee Catalog distribution center. J.C. Penney also opened its first full-line department stores in 1963. Those stores were located in Audubon, New Jersey and King of Prussia, Pennsylvania. Those two stores broaden the lines of merchandise and services that a typical JCPenney carries to include appliances, sporting goods, garden merchandise, restaurants, beauty salons, portrait studios, auto parts and auto centers. In 1966, J.C. Penney finished off the the country's 50 states with the opening of its Honolulu, Hawaii store. JCPenney logo. ... JCPenney logo. ... One of the entrances of the Aventura Mall. ... Location in Miami-Dade and the state of Florida. ... 1962 (MCMLXII) was a common year starting on Monday (the link is to a full 1962 calendar). ... This article or section does not cite its references or sources. ... 1981 (MCMLXXXI) was a common year starting on Thursday of the Gregorian calendar. ... 1963 (MCMLXIII) was a common year starting on Tuesday (the link is to a full 1963 calendar). ... Audubon highlighted in Camden County Audubon is a Walsh Act borough located in Camden County, New Jersey. ... King of Prussia is an unincorporated community in Upper Merion Township, Montgomery County, Pennsylvania, United States. ... Nickname: Sheltered Bay Location within the island of Oahu in the state of Hawaii Coordinates: Country United States State Hawaii County City and County of Honolulu Mayor Mufi Hannemann Area    - City 105 mi² / 272. ...


1969-1979

In 1969, the company acquires Thrift Drug, a chain of drugstores headquartered in Pittsburgh, Pennsylvania. It also acquired Supermarkets Interstate, an Omaha based food retailer which operates leased departments in J.C. Penney stores, The Treasury stores, and Thrift Drug stores. On February 12, 1971, James Cash Penney dies at the age of 95. In respect of James Cash's death the company's stores were closed for half a day. In 1971, the company adopts the famous JCPenney logo which still in use today. In 1977, J.C. Penney sells its Italy stores to La Rinascente and also removes its Supermarkets Interstate leased departments. In 1979, the Visa card is accepted in J.C. Penney stores. The MasterCard is accepted the following year. Year 1969 (MCMLXIX) was a common year starting on Wednesday (the link is to a full 1969 calendar). ... Thrift Drug was a pharmacy chain based in Pittsburgh, Pennsylvania that was purchased by J.C. Penney in 1968, and was expanded greatly thereafter. ... Nickname: Steel City, Iron City, City of Champions, City of Bridges, City of Colleges, P-Burgh, The Burgh Motto: Benigno Numine Location in Allegheny County, Pennsylvania Coordinates: Country United States State Pennsylvania County Allegheny County Founded 1758 Mayor Luke Ravenstahl (D) Area    - City 151. ... February 12 is the 43rd day of the year in the Gregorian Calendar. ... 1971 (MCMLXXI) was a common year starting on Friday (the link is to a full 1971 calendar). ... 1971 (MCMLXXI) was a common year starting on Friday (the link is to a full 1971 calendar). ... For the album by Ash, see 1977 (album). ... For the Smashing Pumpkins song, see 1979 (song). ... Visa or VISA has several meanings: Look up visa in Wiktionary, the free dictionary Visa (document) — a document required to enter a specific country. ... To meet Wikipedias quality standards, this article or section may require cleanup. ...


1984-1997

In 1984, J.C. Penney acquired the First National Bank of Harrington, Delaware and renames it JCPenney National Bank. With the bank the company becomes able to issue its own MasterCard and Visa cards. The company also begins accepting American Express cards. In 1987, the company headquarters was relocated again, to Dallas, Texas. After several years of development, the JCPenney Television Shopping Channel appears on cable systems beginning in 1989. In 1990, the company breaks ground on the company's new corporate headquarters in Plano, Texas. It was completed in 1992. In 1993, when Sears closes it's catalog business, JCPenney becomes the largest catalog retailer in the United States. In 1996, the company expands its drug store business with the acquisition of Fay's Drug and Kerr Drug. These acquisitions momentum climaxes with acquisition of the Eckerd in November. Fay, Kerr, and Eckerd are merged into J.C. Penney's drug store subsidiary Thrift Drug. Fay, Kerr, and Thrift drug stores were re-branded Eckerd in 1997. 1984 (MCMLXXXIV) was a leap year starting on Sunday of the Gregorian calendar. ... Harrington is a city located in Kent County, Delaware. ... American Express (NYSE: AXP), sometimes known as Amex is a diversified global financial services company, headquartered in New York City. ... 1987 (MCMLXXXVII) was a common year starting on Thursday of the Gregorian calendar. ...      Nickname: Big D Location in the state of Texas Country United States State Texas Counties Dallas, Collin, Denton, Kaufman, and Rockwall Mayor Laura Miller Area    - City 997. ... 1989 (MCMLXXXIX) was a common year starting on Sunday of the Gregorian calendar. ... 1990 (MCMXC) was a common year starting on Monday of the Gregorian calendar. ... Nickname: An All-American City Location within the state of Texas Coordinates: County Collin County & Denton County Mayor Pat Evans Area    - City 185. ... 1992 (MCMXCII) was a leap year starting on Wednesday. ... 1993 (MCMXCIII) was a common year starting on Friday of the Gregorian calendar and marked the Beginning of the International Decade to Combat Racism and Racial Discrimination (1993-2003). ... Sears Holdings Corporation NASDAQ: SHLD is the third largest retailer in the United States, behind Wal-Mart and The Home Depot. ... 1996 (MCMXCVI) was a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... Fays Drug was a chain of drug stores that was founded in 1958 in Fairmount, New York. ... Eckerd is a drug store chain with more than 1,549 stores in more than 13 states across the Mid-Atlantic and New England portions of the United States. ... 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ...


1998-2005

In 1998, J.C. Penney launched its third channel for shopping convenience. Its Internet store has grown into one of the largest apparel and home furnishings retail sites on the Internet. Among its general merchandise peers, the on-line store has the highest rate (10.1%) of converting site visitors into buyers. On April 14, 2002, J.C. Penney celebrated 100 years as a retailer. In 2003, J.C. Penney opens three free-standing stores in strip centers. These stores were located in Texas, Minnesota, and Indiana. The company added 14 more stores in 2004. In 2004, the company exits the drug store division after 35 years with the sale of its Eckerd division. In 2005, J.C. Penney's e-commerce storefront exceeded the one billion dollar revenue mark for the first time. 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... April 14 is the 104th day of the year (105 in leap years) in the Gregorian calendar, with 261 days remaining. ... For album titles with the same name, see 2002 (album). ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... Official language(s) None See: Languages of Texas Capital Austin Largest city Houston Area  Ranked 2nd  - Total 268,581 sq mi (695,622 km²)  - Width 773 miles (1,244 km)  - Length 790 miles (1,270 km)  - % water 2. ... Capital Saint Paul Largest city Minneapolis Area  Ranked 12th  - Total 87,014 sq mi (225,365 km²)  - Width 250 miles (400 km)  - Length 400 miles (645 km)  - % water 8. ... Official language(s) English Capital Indianapolis Largest city Indianapolis Area  Ranked 38th  - Total 36,418 sq mi (94,321 km²)  - Width 140 miles (225 km)  - Length 270 miles (435 km)  - % water 1. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Electronic commerce, EC, e-commerce or ecommerce consists primarily of the distributing, buying, selling, marketing, and servicing of products or services over electronic systems such as the Internet and other computer networks. ...


Today

Today, most J.C. Penney stores are located in suburban shopping malls. Previously, most stores were located in downtown areas. As shopping malls became more popular in the latter half of the 20th century, J.C. Penney relocated its stores to shopping malls. However, in recent years, the chain has been following a retailing trend in opening some standalone stores. The company is an Internet retailer and has undergone significant institutional changes to compete in the ever changing retail landscape. Increased competition from big box retailers like Wal-Mart and Target have forced J.C. Penney to focus on private brands such as St. John's Bay, Worthington, nick(it) and Arizona Jean Company. It has streamlined its catalog and distribution while undergoing renovation improvements at store level. Illustration of the backyards of a surburban neighbourhood Suburbs are inhabited districts located either on the outer rim of a city or outside the official limits of a city (the term varies from country to country), or the outer elements of a conurbation. ... For the traditional meaning of the word mall, see mall. ... Wal-Mart Stores, Inc. ... Target Corporation (NYSE: TGT) was founded in Minneapolis, Minnesota in 1902 as the In 1962, the first Target store was opened in Roseville, Minnesota. ...


Controversy

J.C. Penney found itself the focus of a boycott when the company pulled advertising from the sitcom Ellen in 1997, which it deemed "controversial." [1] The company was not the only one to pull ads; other companies included Wendy's, General Motors, Chrysler, as well as Johnson & Johnson. Ellen (originally titled These Friends of Mine for the first season) was a U.S. television sitcom which ran on the ABC network from March of 1994 to July of 1998. ... Wendys is a chain of fast food restaurants founded by Dave Thomas based in Dublin, Ohio and owned by the American corporation Wendys International, Inc. ... General Motors Corporation, also known as GM, is the worlds largest car manufacturer. ... The Chrysler Corporation was an American automobile manufacturer that existed independently from 1925–1998. ... Johnson & Johnson (NYSE: JNJ) is a global American pharmaceutical, medical devices and consumer packaged goods manufacturer founded in 1886. ...


Trivia

  • J.C. Penney is featured on the movie "Blues Brothers" when they drive out of the mall
  • J.C. Penney is featured also on the movie "Back To The Future" as seen from the "Two Pines Mall" parking lot

External links


 
 

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