ipl-logo

JC Penney's Management Team

452 Words2 Pages

JC Penney’s was founded in 1902 by James Cash Penney and is now a multinational retailer, operating over 1000 department stores in 49 states and Puerto Rico. James Penney opened his original dry goods store in Kemmerer, Wyoming and named it the Golden Rule Store to emphasize his personal and business philosophy of treating others as he would want to be treated. The original dry goods store expanded to a department store, and was incorporated in 1924 in Delaware and traded on the New York Stock Exchange. JC Penney now sells a variety of family apparel and footwear, accessories, and fine and fashion jewelry. In addition to selling clothing and conventional merchandise, JC Penney’s stores house several leased departments, such as, Sephora, salons, optical centers, portrait studios, and jewelry repair. JC Penney boasts that its customers can find a broad assortment of national, private, and exclusive brands to fit all shapes, sizes, occasions and budgets. …show more content…

New management sought to boost sales by rebranding JC Penney from the ground up. During this period JC Penney progressively increased spending for store renewals and updates as part of their initiative to regain sales, spending $875 million in 2013 alone. The initiatives put into place by management for rebranding seemed to be an utter disaster, and 2013 was spent trying to stabilize the business. JC Penney attempted to attract a more affluent customer base by decreasing promotions and discounts and rebranding, resulting in a significant decrease in sales. JC Penney showed $1388 million net loss in 2013, worse than the $985 million net loss in 2012. To sustain the business JC Penney borrowed $1850 million in early 2013 to repay long term debt, invest in operations and restore inventory levels in basics and private branded

Show More
Related
1103 Words | 5 Pages

The JC Penney Company is a united states based company and is among the leading companies in the apparel and home furnishings especially in the retail sector. The JC Penney Company is dedicated to fitting the American diversity with quality, value and unpatrolled style. JC Penney has opened up many stalls throughout the country where they offer different products with a wide range of sizes, fits, shapes, occasions, budgets among other considerations. For a very long time JC Penney has been raising in the market until the recent past when it seemed to be making the wrong decisions.it was among the largest American mid-range store. They have been very successful with the expansion of their stores all over the region and even with their expansion

Read More
1985 Words | 8 Pages

Penney, the company was trying to diversify itself and gain as much ground in the industry as possible. There was auto service center, food facilities, discount stores, and other components that took away from the retail store atmosphere they were creating. Now the strategy is clearly defined. According to the J.C. Penney website, the mission of the company is to be dedicated to fitting the diversity of America with unparalleled style, quality and value. JCP is a retail store that sales, women’s, children’s, and male apparel.

Read More
1139 Words | 5 Pages

The J. C. Penney Company flourished under the company motto, “Honor, Confidence, Service, and Cooperation.” As new stores appeared across the country, illustrated announcements in newspapers let people know that a J. C. Penney store would soon open in their community. Smart advertising, just treatment of customers, and good products at affordable prices made Penney very wealthy. He opened the first J. C. Penney Store in his home state of Missouri on April 15, 1918, in Moberly. In 1919, Penney married Mary Hortense Kimball.

Read More
165 Words | 1 Pages

J. Crew was established in New York City in 1947. The store was originally named “Popular Sales Club”. The owner Mickey Drexler started up the company as a door to door sales of women’s clothing (Strickland, 2014, Pg. 510). Over time Drexler changed the name to J. Crew to attract a more “Preppy, affluent consumer’s attention (Strickland, 2014, Pg. 510). Their goal was and still is to be a forefront of fashion and deliver exactly what consumers desired (Strickland, 2014, Pg. 515).

Read More
278 Words | 2 Pages

After Ron Johnson became the new CEO, he bought out major changes in the JC Penney company. The fast approaching changes caused the annual sales to fall from $17 billion to a record low $11 billion and the department store chain’s annual sales were down to $6 billion which cause a devastating crisis (Wahba, 2016). Many employees lost their jobs and many stores were closed. Johnson did not communicate and take into consideration the loyal customers and what they loved about the store- coupons and bargains.

Read More
322 Words | 2 Pages

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”

Read More
1140 Words | 5 Pages

Identify the company and the type of products/services it sells David Jones is an Australian company, it was founded in 1838. The company was created by David Jones, who was a welsh immigrant. David jones is claimed to be one of the oldest running department store in the world still operating under its original name. It currently has 39 stores located in most Australian states. David Jones sells anything from homeware to the latest fashionable clothes.

Read More
1372 Words | 6 Pages

Case Analysis: J. C. Penney Company, Inc. Founded by James Cash Penney in 1902, J. C. Penney Company, Inc. has grown into a major mid-tier retailer. Focusing on providing goods and services for middle-income families, Penney’s competes in several segments. Although men’s and women’s apparel accounts for nearly half of all sales, Penney’s has a diverse portfolio including cosmetics, hair salons, home furnishings and appliances (J. C. Penney Company, Inc., 2015). As one of the oldest retailers in America, Penney’s has recently struggled to maintain the loyalty of existing customers while attempting to attract new ones. Historical Background Penney’s faced a hyper-competitive environment following the recession of 2008.

Read More
1033 Words | 5 Pages

1. Describe J.C; Penney 's culture before and during Johnson 's time in the organization. What were the attributes that Johnson changed, and how did this impact the culture and success of J.C. Penney? J.C. Penney’s culture was based on transparency and loyalty before the entry of Ron Johnson.

Read More
646 Words | 3 Pages

Nick Kousky 1/12/2017 The History of Jimmy Johns In 1983, history was made. The date, January 13, 1983 was a special time for all sandwich lovers around the globe. This date holds the place of the opening of the first ever Jimmy Johns.

Read More
130 Words | 1 Pages

He was trying to make J.C.Penney completely different from it’s competitors like Macy 's, and walmart. I believe he was concentrating on weakness, and opportunities in the SWOT analysis. The weakness

Read More
670 Words | 3 Pages

During the 1920s James Cash opened a fashion store called J.C Penney That introduced new clothing and has transformed how we shopped today. J.C Penney was opened by a famous man called James Cash Jr. and he opened the store in the 1920s. His wife died in 1910 of pneumonia. “Despite his grief, Penney’s business continued to prosper.

Read More
1225 Words | 5 Pages

Segment 1 – Wal-Mart’s Revolutionary Power 1. How much was Wal-Mart’s sales figure quoted in the beginning of the segment? Wal-Mart recorded $256 Billion in sales and is the first company in the world to record such a figure on sales. 2. How many Americans stream into Wal-Mart on a weekly basis?

Read More
1532 Words | 7 Pages

4.2.1 JO MALONE 4.2.1.1 Strategy Jo Malone Company takes its name from the brand creator. Jo Malone was a stylist that wanted to give a special present to her VIP clients, creating a special bath oil with natural ingredients like nutmeg and Ginger. (Gordo, 2013) Jo Malone London was created to celebrate British style with unexpected fragrances and the elegant art of gift giving.

Read More
1009 Words | 5 Pages

I. Introduction Walmart Stores, Inc. - the American corporation which was established in 1962, is well-know for the globe’s largest multinational retailer (Walmart 2016). Walmart owns a chain of grocery stores, discount department stores and hypermarkets with about 11,500 retail stores over 28 countries. In 1998, Walmart entered Germany with the acquisition of Wertkauf and Interspar chain (Louisa 2006). Despite having the strongest economy in Europe and the third largest retail market in the world, Germany was not an ideal place for Walmart to achieve its ambition (Knorr and Andt 2003). After nearly a decade struggling to grow, Walmart decided to pull out of German market in 2006 with the loss of one billion dollars (Mark 2006).

Read More

More about JC Penney's Management Team

Related Topics

Open Document