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Penney OpCo LLC, doing business as JCPenney and often abbreviated JCP, is an American department store chain that operates 656 stores across 49 U.S. states and Puerto Rico.
Oct 3, 2024 · JCPenney is an iconic American retail company and key anchor store in shopping malls across the United States. After filing for bankruptcy in 2020, the company was taken over by two of the nation’s largest property managers and is seeking to make a comeback.
Founded in 1902, JCPenney is one of the nation's largest retailers. Learn more about the company's history, brands, corporate responsibility & initiatives.
- The Founder’s Name Is An Aptronym
- James Cash Penney First Opened A Butcher Business
- The First Jcpenney Was Founded in Wyoming
- But Jcpenney Wasn’T The Original Store Name
- Jcpenney Still Believes in Honoring “The Golden Rule”
- Fedoras Got The First Jcpenney Private Label
- Jcpenney Became Publicly Traded in 1929
- Penney remained Involved in The Stores
- The First Jcpenney Catalog Was Introduced in 1963
- Jcpenney Employees Watched A Lot of YouTube Videos
Defined, an aptronym is when a person’s name is amusingly appropriate given their occupation. (Think: Usain Bolt, a lightning fast runner). James Cash Penney was the founder of JCPenney, and he has a name that’s, well, rich with money and deal references.
Penney was born and raised in Missouri, but he moved out west after his doctor told him the region’s drier climate would be a boon for his health, according to the Wyoming State Historical Project. His first stop was in Longmont, Colorado, where he opened a butcher shop in 1898. His foray into the butcher shop business failed, though, because a loc...
JCPenney got its start in Kemmerer, Wyo., a small coal mining town. The store sold goods to coal miners and their families at affordable prices, according to the Wyoming State Historical Society.
The store was originally named “The Golden Rule.”Today, JCPenney says the original name set the standard for which the company has operated on for more than a century, treating others the way it, too, would like to be treated. The name JCPenney was incorporated in 1913.
The company states that it still values the the golden rule mantra. The store has a nonprofitorganization, the JCPenney Foundation. The foundation supports organizations like the Y, Boys and Girls Clubs of America and After-School All-Stars, helping provide clothing and career readiness programs to underserved children.
In 1914, JCPenney launched its first private-label brand with Marathon Hats, according to the company’s history. The line of elegant fedoras were followed by “Big Mac” private-label work shirts that started at 69 cents, according to Fortune,and dapper Waverly caps that sold for just under $2 during the Great Depression.
One week before the market crash and the onset of the Great Depression, JCPenney became a publicly traded company, according to store history.
Penney, the store’s founder, would still make rounds in his stores during the 1960s, according to Inc., sometimes stepping behind the counters to help out customers. He served on the company’s board of directors until he died in 1971 at age 95.
But, JCPenney stopped printing its catalogs, which had grown to 1,000 pages, in 2010. Then, it hopped back in the catalog business again in 2015. A company spokeswoman told NPRthat consumers still liked to browse the catalog, and then purchase the items online or in a brick-and-mortar store.
In January 2012, the 4,800 people who worked at JCPenney’s headquarters in Plano, Texas, watched 5 million YouTube videos while on the clock, hogging almost a third of the headquarter’s bandwidth, Michael Kramer, the company’s chief operating officer, revealed to the Wall Street Journal. Subsequently, more than 1,600 people were laid off.
JCPenney proudly serves customers at more than 650+ stores across the United States and Puerto Rico, and at the Company’s flagship store, jcp.com. JCPenney is one of the nation’s largest retailers of apparel, home, jewelry, and beauty merchandise with a growing portfolio of private and national brands.
Sep 12, 2024 · J.C. Penney (born Sept. 16, 1875, Hamilton, Mo., U.S.—died Feb. 12, 1971, New York, N.Y.) was a merchant who established one of the largest chains of department stores in the United States. Penney’s first job was clerking in a general store for a salary of $2.27 per month.
In 1989 JCPenney was named the U.S.'s exclusive distributor for Olympic apparel, sold its JCPenney Casualty Insurance Company, and debuted the JCPenney Television Shopping Channel.
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