Company History and Principles JCPenney is a very well-known name among ladies today. A lady can walk to into JCPenney and find just about anything. JCPenney carries market apparel for the entire household, home furnishings, cosmetics, jewelry, shoes, and cookware. However, this century old corporation had a very humble beginning. James Cash Penney founded what is known today as JCPenney in 1902. Penney started off as a dry goods store in Kemmerer, Wyoming and was called Golden Rule. “James Cash Penney made it a priority to treat customers the way they would want to be treated.” (JCPenney, Golden rule) He was so passionate about upholding this principle that when the company incorporated on January 17, 1913, he along with the other partners …show more content…
3) To do all in our power to pack the customer’s dollar full of value, quality, and satisfaction. 4) To continue to train ourselves and our associates so that the service we give will be more and more intelligently performed. 5) To improve constantly the human factor in our business. 6) To reward men and women in our organization through participation in what the business produces. 7) To test our every policy, method and act in this wise: “Does it square with what is right and just?” (JCPenney, Defining the Golden Rule) These principles remain alive to this day and JCPenney has become one of the most trusted brands among American families today. Headquarters and Growth By 1913 JCPenney had 34 stores in the American West. Because of their rapid growth the following year they decided to base their headquarters in New York City. After this their popularity kept growing and in 1927 JCPenney became a publicly traded corporation listed on New York Stock Exchange. Two years later they owned 1,392 stores in America. JCPenney acquire General Merchandise Co. to get a foothold in the catalog field and the first Penney Catalog was issued in …show more content…
JCPenney’s key sales drivers are some of its private brands. Their popular brands include: St. John’s Bay, Arizona, Okie Dokie, Total Girl, Xersion, Worthington, Liz Claiborne, and Ralph Lauren. JCPenney also sells national brands such as Carters, Dockers, Levi’s, and Nike. One of the biggest advantages of having these private brands is that they do not get entangled in pricing pressure from online competitors. These brands help JCPenney compete more aggressively with online retailers because they are known for their quality. JCPenney’s competitors include Macy’s as the major upscale competitor and discounters like, Kohl’s Sears, Roebuck, Target, and in some cases even