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In 1913, the company was incorporated under the new name, J. C. Penney Company, with William Henry McManus as a co-founder. In 1914, the headquarters was moved to New York City to simplify buying, financing, and transportation of goods. [14] By 1917, the company operated 175 stores in 22 states in the United States. J. C.
J.C. Penney had its origins in the store opened in 1902 by James Cash Penney (1876-1971) and William Henry McManus, who opened the Golden Rule dry goods store in the small mining town of Kemmerer, Wyoming. This store was so successful that the partners opened more stores. The headquarters was moved to Salt Lake City in 1909 and in 1913 the name ...
26 Sep 1968 (aged 81) Chicago, Cook County, Illinois, USA. Burial. Mount Carmel Catholic Cemetery. Hillside, Cook County, Illinois, USA Add to Map. Plot. Section 15-Block 4-Lot 8-Grave 2. Memorial ID. 88287325.
- 1902–59: Early History and Incorporation
- 1960–79: Growth and Success
- 1980–99: Acquisitions and Internet Store
- 2000–09: Continued Growth and Success
- 2010–Present: Rebranding and Decline
James Cash Penney was born in Hamilton, MO. After graduating from high school, Penney worked for a local retailer. He relocated to Colorado at the advice of a doctor, hoping that a better climate would improve his health. In 1898, Penney went to work for Thomas Callahan and Guy Johnson, who owned dry goods stores called Golden Rule stores in Colora...
In 1962, J. C. Penney entered discount merchandising with the acquisition of General Merchandise Company which gave them The Treasury stores. These discount operations proved unsuccessful and were shuttered in 1981. In 1963, J. C. Penney issued its first catalog. The company operated in-store catalog desks in eight states. The catalogs were distrib...
In 1983, JCPenney discontinued its hardware and automotive departments, and also sold its auto repair shops to Firestone. Also in 1983, JCPenney began selling online through theViewtron videotex service. In 1984, JCPenney acquired the First National Bank of Harrington, Delaware and renamed it JCPenney National Bank. With the bank the company became...
In 2001, JCPenney sold their direct-marketing insurance unit to Dutch insurer Aegon for $1.3 billion (equivalent to $1.73 billion in 2014) in cash. This was an attempt to allow the company to focus on the retail business. In 2004, the company added 14 more stores and exited the drug store division after 35 years, with the sale of its Eckerd divisio...
On January 24, 2011, JCPenney announced it would exit the catalog business and close all 19 of its catalog outlet stores. An additional seven stores, two call center facilities, and one customer decorating facility would also be closed. One of the JCPenney Outlet Stores that closed, at Franklin Mills Mall, in Philadelphia, PA, was replaced on March...
J.C. Penney & Co. was founded in 1902 by James Cash Penney and William Henry McManus. Penny moved to Kemmerer in 1902 from Evanston to open dry goods store in the booming mining town. He was born in Missouri, he worked for eight years in a Missouri dry goods store before moving to west.
Name: William Henry McManus Birth: 24 FEB 1923 Charlestown, Suffolk County, Massachusetts Death: 1 OCT 1992 University of Massachusetts Medical Center, Worcester, Massachusetts
Jul 2, 2012 · In 1913, by consolidating all the stores the company got incorporated under the new name, J. C. Penney Company, with William Henry McManus as a co-founder. From 1915 to 1917 the company grew from 83 stores to 175. In 1924, the company opened its 500th store in Hamilton, Missouri, James Cash Penney’s hometown.
