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JC Penney Company Research Essay

1930 Words8 Pages

This research paper will explain the origin of the J.C. Penney Empire. It will detail the beginning when James Cash Penney opened his first store. James was a small retail businessman from Missouri. He founded one store which lead to a nationwide chain of J.C. Penney stores. The store carried a variety of products. He believed the stores should be run with honesty and respect for the customer. Fast forwarding to the present, in 2013 JC Penney hired Y & R. (Young & Rubicam) to help with a major organizational change within the company. This company was hired for its strategic and creative contributions in building the brand of loyalty with the customers. Under the former CEO’s watch, the brand dispensed with advertising in favor of sophisticated …show more content…

Penney rose to fame through hard work and determination. James Cash Penney established partnership with the Golden Rules Stores. He opened his own store, located in his hometown. This early store was located in a two-window building. It was a success, and profits increased quickly. In 1902, Penney then founded the J.C. Penney retail store, named for himself. Today, they have their own brand of apparel, jewelry, cosmetics, cookware, and, for the present, appliances. During the years of 1913 to 1924, the stores were called the J.C. Penney Stores Company. In 1968 the name was shortened to just J.C. Penney. By the early 2000s, there were 1,000 stores in operation. The headquarters was moved to New York City, and the number of stores increased. By 2006, J.C. Penney entered into partnerships with well-known companies and personalities such as: Sephora, Ralph Lauren, and Kimora Lee Simmons. J.C. Penney had attire for families, and customers of all sizes. J.C. Penney made their share of mistakes during their golden years. Even with various mishaps, the company strategically planned how to increase sales and profits. They hired several marketing companies to assist with the planning. Recently, several stores were closed because of a decrease in sales. To compensate for these losses, they became successful with their online sales and shipping to homes. Once they got on the same path as their competitors, they have reigned supreme with more profits than ever

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