What is JC Penney? JC Penney Review, Features

JC Penney was founded by James Penney in 1902 in a mining town in Wyoming, USA. It is currently headquartered in Plano, Texas, USA. JC Penney is an American department store chain that mainly sells men's clothing, women's clothing, children's clothing, jewelry, shoes, accessories and household items.

About JC Penney

·In the beginning of the store, James Penney selected quality goods according to the conditions of the town, the hobbies and needs of the residents and marked the price on each item. The price was the same for people of all classes, which was unusual at the time.

Most J.C. Penney stores are located in suburban shopping malls. Prior to 1966, most of its stores were located in urban areas. As shopping malls became more popular in the second half of the 20th century, J.C. Penney followed the trend and anchored shopping malls by relocating and developing stores. In more recent years, the chain has continued to focus on consumer traffic, echoing a trend in the retail industry to open some freestanding stores, including some next door to competitors. The company, which has been an Internet retailer since 1998, has streamlined its catalog and distribution while making renovation improvements at the store level.

JC Penney Private Label

St. John's Bay, casual clothing and shoes for men and women;

The Original Arizona Jean Company, casual apparel and sandals for men, women and children;

Xersion, sportswear for men, women and children;

Stafford, men's tailored clothing and shoes;

· J. Ferrar (JF), a full range of men's clothing;

Worthington, women's formal and casual clothing and shoes;

ana, urban clothing and shoes for young women;

Ambrielle, women's sleepwear, lingerie and swimwear;

JCPenney Home, home furnishings.

Logo Changes

1963-1971:

1971-2000:

2000-2006:

2006-2008:

2008-2011:

2011-2012:

2012-2013:

·Since 2013:

Development History

-In April 1902, Penney opened his own store in Kemmerer, Wyoming.

-In 1909, Penney moved its headquarters to Salt Lake City, Utah, to be closer to banks and railroads.

-In 1912, Penney had 34 stores in the Rocky Mountain states.

-In 1913, all stores were unified under the J.C. Penney banner and the company was incorporated under the new name, J.C. Penney Company.

-In 1914, J.C. Penney moved its headquarters to New York City to simplify the purchasing, financing, and shipping of goods.

-In 1917, JC Penney operated 175 stores in 22 states.

-In 1941, JC Penney operated 1,600 stores in 48 states.

-In 1949, JC Penney opened the first drive-in shopping mall in St. Louis, which was away from the main street and became the predecessor of the modern American shopping mall.

-In 1956, JC Penney ran a series of ads in Life magazine.

-In 1959, the JC Penney credit card was first issued.

-In 1961, JC Penney opened the first full-line mall department store.

-In 1963, JC Penney published its first catalog.

-On February 12, 1971, founder James Cash Penney died at the age of 95.

-In 1994, JC Penney launched jcp.com, one of the first online apparel and home goods websites.

-In 1998, JC Penney launched its Internet store.

-In early 2001, JC Penney closed 44 underperforming stores.

-In 2005, JC Penney's e-commerce stores exceeded $1 billion in revenue for the first time.

-In 2007, JC Penney launched the Ambrielle lingerie brand, becoming the largest private label in the company's history.

-In 2009, the company's revenue was $17.6 billion.

-On January 24, 2011, JC Penney announced that it would exit the catalog business and close all 19 of its catalog outlet stores.

-In 2012, JC Penney's sales began to decline and it closed several stores.

-On January 15, 2014, JC Penney announced that it would close 33 underperforming stores and lay off 2,000 employees.

-In January 2015, JC Penney announced that it would close 39 non-performing stores across the country and lay off 2,250 employees.

-In 2016, JC Penney launched Boutique+, the first full-time women’s fashion brand.

-In February 2017, JC Penney announced it would close two distribution centers and up to 140 underperforming stores.

-On March 17, 2017, JC Penney released a list of 138 locations that will be closing by the end of June 2017. By closing stores and distribution facilities, JC Penney will realign resources to help expand its in-store Sephora boutiques and add Nike and Adidas boutiques, similar to what Macy's has done with Finish Line, Lids, and LensCrafters.

-At the end of 2017, JC Penney's Better Business Bureau (BBB) ​​rating was 1.08 stars based on 47 customer reviews and a BBB rating of F. Most of the low ratings were attributed to poor customer service. In an effort to capitalize on self-deprecating humor and improve its reputation, JC Penney opened a "Jacques Penne" pop-up shop in Manhattan during the 2017 holiday season with Nicole Richie and other designers.

-In 2018, JC Penney permanently closed the Plaza Palma Real in Humacao after Hurricane Maria destroyed the store in September 2017.

-In May 2018, J.C. Penney reported an adjusted loss of $69 million in the first quarter, even worse than Wall Street had predicted.

-On May 22, 2018, JC Penney announced that its CEO Marvin Ellison resigned.

-On October 2, 2018, JC Penney announced that former Jo-Ann Stores CEO Jill Soltau would be their CEO, effective October 15, 2018. JC Penney's stock price rose 9% following the announcement. The company is ranked 235th on the Fortune 500 by revenue.

-On December 26, 2018, J.C. Penney (NYSE: JCP) stock price fell below $1 per share.

-On February 6, 2019, J.C. Penney said it would stop selling major appliances on February 28.

-On March 26, 2019, JC Penney announced the hiring of Bill Wofford as Chief Financial Officer.

-On May 21, 2019, JC Penney announced that Shawn Gensch will become their Chief Customer Officer, effective June 3, 2019.