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Company Profile Of J. C. Penney Company, Inc.

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JcPenney (JCP) Company Profile
J.C. Penney Company, Inc. (NYSE: JCP), sells more than just conventional goods through the branches of J.C. Penney Corporation, Inc. (JCP), stores in the United States. JCPenney is known as one of the largest retailers offering home furnishings and clothing that offers a wide selection of private, exclusive labels to fit everyone’s shapes and sizes, and coast to coast goods. The department stores of JCP sell apparel, shoes, cosmetics, and jewelry. JCPenney also leases space to provide customers with hair shops, Sephora, portrait studio, jewelry reparation, and optical centers. JCPenney operates 1,020 sites throughout the United States and Puerto Rico and it was a total of 114,000 employees as of the 2014 fiscal …show more content…

Penney Company, Inc. is known as one of the leading departments stores that operate in the United States based out of Plano, Texas. It all began on 1898 when James Cash joined the owners of tow Golden Rule stores located in Wyoming and Colorado, where he helped open a new store with his savings and a loan (McInnis, n.d.). Penney opened his first store in Kemmerer, Wyoming, in 1902 as he helped with two of the stores during his partnership (The Editors of Encyclopedia Britannica, n.d.). The store was named The Golden Rule, because of the belief of treating others as we want to be treated (JCPenney, 2014). The partnership ended in 1907 after Callahan and Johnson decided to go in different directions and Penney purchased his partners shares (The Editors of Encyclopedia Britannica, nod). As a result, Penney relocated the head office to Salt Lake City, Utah in 1909 since he wanted to be near to banks and the train tracks. Ten years later, Penney had a total of 34 stores in the Rocky Mountains and by 1913 they were all merged under the J.C. Penney name. During the year 1914 the business was integrated by the name of J.C. Penney Company, beside the co-founder William Henry McManus. During that same year the head office was relocated to New York where funding, purchasing, and transportation of products was made

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J. C. Penney Company, Inc. (JCPenney) is a holding company. The Company's business consists of selling merchandise and services to consumers through its department stores, its website, applications for desktop, mobile and tablet devices. Its department stores and website generally serve the same type of customers, offers the same mix

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In the day and age of shopaholics and fashion trends changing every week, looking into the history of JcPenney, a retail giant, is long overdue. JcPenney was founded by James Cash Penney. Before opening his highly successful retail store, he first worked as a sales person for the Golden Rule Mercantile Company ("J.C. Penney Company,”). After three years as a salesman, the founder of the company and his partner promoted Mr. Penney to a manager and partner of the company. Ultimately, this prompted him to opening his own branch of Golden Rule with a cash only policy which bankers in the area were sure that his plan would fail.

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Penney was devastated and later wrote that with Berta’s death, his “world crashed” around him. Despite his grief, Penney’s business continued to prosper. In 1912, there were thirty-four Golden Rule stores with sales surpassing $2 million. The chain name was changed in 1913, becoming the J. C. Penney Company. By 1914, Penney relocated his headquarters to New York City to be closer to the major sources of merchandise.

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J. C. Penney Company, Inc. (JCP) is one of America 's largest store department of retailers. In 1902, James Cash Penney established the primary J. C. Penney store of department, initially named The Golden Rule, in the little mining town of Kemmerer in Wyoming. From that moment, J. C. Penney has gotten to be one of the biggest retailers in the discount and department of the retail business in 49 states with 1033 stores including Puerto Rico. Moreover, J. C. Penney works J. C. Penney operates “One of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation’s largest general merchandise catalog business”

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