The Penney Building in Anchorage partially collapsed and was damaged beyond repair in the Alaska earthquake. It was the largest J. In , the company acquired Thrift Drug, a chain of drugstores headquartered in Pittsburgh, Pennsylvania. It also acquired Supermarkets Interstate , an Omaha-based food retailer which operated leased departments in J. Penney stores, The Treasury stores, and Thrift Drug stores. On February 12, , James Cash Penney died at the age of JCPenney reached its peak number of stores in , with 2, stores, of which were full-line establishments.
However, the company was hard hit by the recession with its stock price declining by two-thirds. Penney sold its stores in Italy toLa Rinascente and also removed its Supermarkets Interstate leased departments. In , The company closed the Treasury discount stores because they were unprofitable and decided to focus resources on its core retail stores. In , the J. National Historic Landmark. In , the Visa card began to be accepted in JCPenney stores. MasterCard was accepted the following year.
In , JCPenney discontinued its hardware and automotive departments, and also sold its auto repair shops to Firestone. Also in , JCPenney began selling online through theViewtron videotex service. With the bank the company became able to issue its own MasterCard and Visa cards. The company also began acceptingAmerican Express cards. Also that year, Thrift Drug began co-locating stores with Weis Markets, and acquired many former Pantry Pride properties.
In April , the company announced that it was moving its headquarters to Dallas, Texas. After several years of development, the JCPenney Television Shopping Channel appeared on cable systems beginning in By the mids, all JCPenney stores had discontinued sales of firearms.
Before this point, JCPenney carried rifles and shotguns branded with the JCPenney brand but produced by numerous established firearms manufacturers. In , the company broke ground with the new corporate headquarters in Plano, Texas. It was completed in When Sears closed its catalog business in , J. Penney became the largest catalog retailer in the United States.
These acquisitions momentum climaxed with acquisition of the Eckerd chain in November. Kerr Drug stores in The Carolinas remain branded as such. In , JCPenney launched its Internet store, which has since grown into one of the largest apparel and home furnishings retail sites on the Internet. In early , JCPenney closed 44 under-performing stores. On April 14, , JCPenney celebrated years as a retailer. In , the company opened three off-the-mall stores in strip centers.
These stores were located in Texas, Minnesota, and Indiana. The new one-level, 94, sq ft 8, m 2 format stores focus on convenience with wider aisles and centralized checkouts. This was an attempt to allow the company to focus on the retail business. In , the company added 14 more stores and exited the drug store division after 35 years, with the sale of its Eckerd division. Penney locations. After Rite Aid finalized its acquisition of Eckerd in , the Catalog Centers inside the soon-to-be-converted stores permanently closed, although as a result of the acquisition, Rite Aid now accepts JCPenney credit cards, even at Rite Aid locations that existed before the takeover of Eckerd.
This statement covers our current activities and potentially many others. It includes stores and catalog, as well as our financial services, drugstore, and specialty business operations. Penney Company, Inc. JCPenney is the largest department-store retailer and catalog merchant in the United States, with licensing agreements for its products throughout the world.
The company boomed in its early days in Western mining towns because it offered all goods at "one fair price" and brought fashionable goods from the East to remote towns. The company struggled through the s, as upstart companies like Wal-Mart began selling goods at discount prices and long-time rivals like Sears gave JCPenney tough competition in the hardware and appliance departments.
A major reorganization of the company from a mass marketer into a fashion-oriented national department store during the s, along with the relocation of its corporate headquarters from New York to less expensive Texas, put JCPenney in a strong position to compete in the tough retailing climate of the s.
James Cash Penney started his first retail store in in Kemmerer, Wyoming, a small mining town. He was 26 years old and had grown up on a farm near Hamilton, Missouri. Two years after graduating from high school, Penney went to work for a local retailer, J. Penney's health suffered while he was in the Midwest, and his doctor advised him to move to the cooler climate of Colorado. Callahan soon promoted young Penney to his Evanston, Wyoming, store to work with one of his partners, Guy Johnson.
Penney put in three years as a salesman, and Callahan and Johnson decided to make him a manager and partner. Penney chose to open his first Golden Rule store in Kemmerer because many of his Evanston customers lived there.
The local banker cautioned Penney against opening a "cash only" store, as three others had failed in Kemmerer, but Penney didn't want to accept mining company scrip or credit. In Callahan and Johnson dissolved their partnership, and Penney bought them out, taking over three stores. He implemented the principles of his former partners and expanded the chain throughout the Rocky Mountains by allowing his store managers to buy a one-third partnership in new stores, provided they had a trained salesperson to take their place as manager at the old store.
In , Penney incorporated the company as J. By the company had 83 stores and the next year ventured east of the Mississippi River for the first time with stores in Wausau and Watertown, Wisconsin. Penney became chairman of the board in , when the company had stores, and Earl Sams became president. The company continued to open stores at a fast clip.
Private label brands were a major reason for the success of the company. Customers liked them because of controlled quality and cheaper prices than brand names; Penney liked them because he could control the price and make a higher profit margin. During the next several years, the company's growth was explosive. As Penney's personal wealth increased, so did his charity. Though he had quietly been giving thousands of dollars to local churches and organizations, in he founded Penney Farms, a ,acre experimental farming area in northern Florida for down-on-their-luck farmers.
Penney Foundation to fund a myriad of family-related agencies. The next year, when the company opened an story office and warehouse building in New York, Penney went back to Florida and built the Memorial Home Community, a acre residential tract for retired ministers, church workers, and missionaries, adjacent to Penney Farms. The company's managers and executives, who had equity in individual stores they ran or oversaw, traded their ownership for a stake in the company as a whole.
In the company was listed on the New York Stock Exchange. When the Great Depression hit, the company coped by cutting back its inventory and trying to purchase goods at lower prices so it could pass the price cuts on to customers. The company survived the hard times largely because it had become known for its high quality goods and service, and people turned to JCPenney for the basic items they needed.
During World War II, the company sold a record number of war bonds through its stores. In Earl Sams was promoted to chairman, with Penney as honorary chairman, and Albert Hughes, a former Utah store manager, was elevated to the presidency. The company--now with 1, stores--opened a store in Hampton Village, Missouri, in in a "drive-in shopping district," a precursor to suburban malls.
After only four years as chairman, Earl Sams died in In an unusual corporate move, J. Penney resumed the chairmanship instead of promoting Albert Hughes. In Penney created the James C. Jim began his training as a salesman on February 4, I like the way he has started out.
Other salesmen often bullied Penney and took customers away from him. Penney learned that he had to stand up for himself. Even as he gained confidence in himself and developed his skills as a salesman, Penney started feeling ill. He was diagnosed as being susceptible to tuberculosis. His doctor told him to move to a drier climate. In , Penney moved to Denver, Colorado, and found work in a dry goods store. Then he bought a butcher shop with all his savings. That same year, Penney married Berta Alva Hess.
Using money from savings and a loan, Penney joined the partnership and moved with his wife and infant son to Kemmerer, Wyoming, to start his own store. The store J. Penney opened on April 14, , was a one-room wooden building.
He and his family lived in the attic above the store. Penney stocked quality products at fair prices for mining and farm families. Within a year, Penney was managing two more stores. Soon, he had a one-third ownership in three stores in Wyoming. By , Callahan and Johnson sold their shares of the chain to Penney who dreamed of starting more Golden Rule stores throughout the West. The store name represented his religious beliefs and gave him a business motto. The number of men Penney hired and trained grew larger each year and formed the basis of his company.
By , Penney established his headquarters office in Salt Lake City. In , tragedy hit. The chain name was changed in , becoming the J. Penney Company. By , Penney relocated his headquarters to New York City to be closer to the major sources of merchandise. The J. Penney store would soon open in their community. Smart advertising, just treatment of customers, and good products at affordable prices made Penney very wealthy. He opened the first J. Penney Store in his home state of Missouri on April 15, , in Moberly.
Penney opened his th store in his hometown of Hamilton. Penney Store was located in the same building as J. In , Penney married Mary Hortense Kimball.
Sadly, Mary died in , leaving him with another son, Kimball. Hale, retired in , Penney opened his th store in his hometown of Hamilton. Penney bought the same building where he had started his retail career and selected fourteen citizens from Hamilton as his partners in the store.
Two years later, Penney married his third wife, Caroline B. Together they had two daughters, Mary Frances and Caroline Marie.
Their marriage lasted until his death. Berta Alva Hess was J.
0コメント