History of JC Penny

History of Business
J.C. Penney was founded in 1902 by James Cash Penney and William Henry McManus. The original name for the store that started J.C. Penney in the dry goods business was The Golden Rule, but was changed to J.C. Penney in 1913 when Penney accepted a majority ownership of the chain, William McManus still being a partner. The mother store is located in Kemmerer, Wyoming and still operates as of 2007.

Today, most J.C. Penney stores are located in suburban shopping malls. Previously, most stores were located in downtown areas. As shopping malls became more popular in the latter half of the 20th century, J.C. Penney relocated its stores to shopping malls. However, in recent years, the chain has been following a retailing trend in opening some standalone stores. The company is an Internet retailer and has undergone significant institutional changes to compete in the ever changing retail landscape. Increased competition from big box retailers like Wal-Mart and Target have forced J.C. Penney to focus on private brands such as St. John's Bay, Worthington, nick(it) and Arizona Jean Company. It has streamlined its catalog and distribution while undergoing renovation improvements at store level.
History of Business