Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/ap/2012-11-17/j-dot-c-dot-penneys-journey-from-1-store-to-1-100

AP News

J.C. Penney's journey from 1 store to 1,100


NEW YORK (AP) — A look at J.C. Penney's milestones:

—1902: James Cash Penney, son of a Baptist preacher and farmer, opens The Golden Rule, a dry goods and clothing store in Kemmerer, Wyoming. The name was based on his guiding principle of building a business through serving the community with fair dealing and honest value.

—1913: Incorporated in Utah as the J.C. Penney Co. Inc. and the Golden Rule name was phased out.

—1914: Headquarters moves from Salt Lake City, Utah, to New York City.

—1929: Begins selling shares as a publicly traded company.

—1951: Store sales exceed $1 billion for the first time.

—1963: Issues its first catalog.

—1971: James Cash Penney dies at age 95.

—1972: Launches first national television.

—1979: Catalog sales pass $1 billion for the first time.

—1992: Headquarters moves to Plano, Tex.

—1994: Launches jcpenney.com, its online store.

—2005: Penney's e-commerce business surpasses $1 billion in sales.

—2009: Opens its first store in Manhattan.

—2010: Becomes the exclusive retailer of Liz Claiborne and Claiborne in the U.S. and Puerto Rico. Exits catalog business. Introduces mobile coupons.

—2011: Ron Johnson, a former Apple executive, becomes CEO.

—2012: Implements a new pricing strategy that eliminates hundreds of coupons and sales in favor of everyday lower prices. Begins rolling out new shops in stores to turn the stores into mini-malls of sorts.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus