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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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