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Overview Of J. C. Penney Company

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Introduction

J.C. Penney Company, founded by James Cash Penney, is one of the largest clothing and home furnishing stores in the United States with its headquarters in Plano, Texas. On April 14th, 1902, in the town of Kemmerer, Wyoming, Penney and two other partners opened up the Golden Rule dry-goods store. In 1913, with over 34 stores, the company was incorporated as J.C. Penney Company, Inc. and transitioned its headquarters to New York City. By 1929, the company was listed on the New York Stock Exchange. According to their 2013 Sustainability Report, there are 117,000 employees at the JCPenney headquarters.
J. C. Penney, a Fortune 500 retail store, provides a variety of brands, catering to diverse customers’ specific income, size, and …show more content…

Most consumers believed the prices to be higher rather than lower at the department store; merely 16% of customers associated their prices with “Best Prices”, meaning they considered the prices to be low. Additionally, customers mentioned that deals were harder to find and that there were limited aisles with bargains. Customers are accustomed to promotions in department stores, especially in the industry in which JCPenney exists, as they have limited budgets and are able to go to another retail outlet for better deals. Competition is substantial in the retail market and promotions are crucial, unless you have a product that you cannot find at a lower price at other stores.

In early 2014, the Company launched a new tagline, “When it fits, you feel it” to reunite with their core customers by tending to their needs. As quoted by a spokesperson for JCPenney for Marketing Daily, “From a branding perspective, our new tagline celebrates the emotion that comes from finding the perfect fit, underscoring our commitment to deliver the sizes, brands, styles and prices that fit the real life needs of our customers”. Changes in JCPenney’s logo over the years are shown …show more content…

According to Myron E. Ullman, III, Chief Executive Officer, JCPenney recently faced a period of evolution and adjustments, but the significance of being both socially and environmentally responsible was always their main focus, and adds that “Supporting the communities goes well beyond Philanthropic efforts – it’s also about making mindful decisions in all of our operations, whether in stores, supply chain, customer service centers or international

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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

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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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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.

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Penney survived many American recessions and thrived during a variety of decades where it did the right thing from a business perspective: earning money. Beginning 80s, J.C. Penney disbanded most of its automotive parts. Beginning 00's, the department store sold its insurance division to Dutch finance giant Aegon and exited the drug store business soon after. All this was to focus more on its core business, the retail industry. Was that a good

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Due to the store’s popularity and growth, the company quickly expanded and relocated their headquarters to New York City. In the span of 27 years, JC Penney grew to over 1,000 stores and went public. JC Penney “used to be a place where working class and upper middle-class families could buy good quality merchandise, at a fair price, with friendly sales people. It was stable, trendy, and reflected the growing affluence of the typical American

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The first department store was established in New York City in 1846 by Alexander Turney Stewart (Keene, 482). Soon after, others began copy Stewart and created giant stores that had many “departments” (Keene, 482). Within the next few decades, department stores became very popular, and people would swarm to them. Not only for the merchandise that had a fixed price, but also for the experience. Before the department store, most people would make negotiations on prices of the goods rather than having an already settled, fixed price.

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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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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.

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Introduction The Dallas-area is home to a great majority of the Texas population. Citizens in the Dallas region are a unique and very powerful part of our Texas community and it is vital that we, as Texans, must protect our valuable ecosystem. As members of the JCPenney community outreach program, we strive to incorporate new ideas to help our metroplex thrive and grow. It is important to JCPenney to promote social responsibility and sustain community engagement among the Dallas area. We have designed an innovative way to aid the homeless within our greater Dallas area.

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