J. C. PENNY

Economic Review : J .C . Penny

J .C . Penney is an American department store chain based in Plano Texas . The store was founded in 1902 , in Kemmerer , Wyoming , by James Cash Penney and William McManus , and it moved to Salt Lake City in 1909 The store remained a somewhat low-key retailer until the 1960s , when it went national . After that , the company began to expanded , buying smaller corporations , and practicing discount merchandizing . After a period of success , J .C . Penney stores invaded urban and suburban shopping malls which made the chain one of

the most powerful discount merchandise and general retail companies in the country

Recent History of J .C . Penney

In 1962 , J .C . Penney gained the rights to The Treasury , which was a chain of discount stores throughout the United States , which then went under the J .C . Penney name . This helped the company enter the market and popularized the company enough for it to begin a mail- service Magazines that displayed the retailer 's products were nationally distributed , making the store popular nationwide . And in 1963 , the store opened its first full-line department stores , in New Jersey , and Pennsylvania , which sold various items , such as sporting goods products appliances , clothes , tools , auto parts , and many more items . In 1969 J .C . Penney gained the rights to Thrift Drug , which put another major corporation under the J .C . Penney label

Over the next decade , the store began expanding , opening at new locations , and accepting major credit cards . It continued...