Myron E. Ullman III
Chief Executive Officer and Director
Dennis P. Miller
Senior Vice President, Principal Accounting Officer, and Controller
Michael D. Porter
Vice President and Treasurer
J. C. Penney was founded in the year 1902. The company has been operational for almost 117 years now. The founders of the company were William Henry McManus and James Cash Penny. The company had launched its stores under the name - Golden Rule Store. Then in the year 1907, JC Penny had bought out the shares of the company's other owners and after that changed the name of the stores to JC Penny. During that time, the company had almost 35 stores under its name. By the year 1917, the company had opened nearly 175 stores in almost 22 states in the USA. Also, by the year 1924, the 500th store of the company was opened as well. The numbers increased to nearly 1000, by the year 1928.
As of the year 1941, the company was operating in almost 48 states all over the USA. The company had nearly 1600 stores during that time. In the year 1956, the company started advertising in Life Magazine. Then in the year 1959, the JC Penny Credit Card was also launched too. Four years later, in the year 1963, the catalogue of the company was launched as well. Till the year 1971, the catalogue part of the business did not bring any profits. In the year 1971, the founder of the company had passed away. In the year 1983, the company had moved away from selling significant appliances to its customers. By the year 1993, the company had become the most extensive catalogue retailer in the USA. But, in the year 2011, the company had closed down its catalogue business as well. In the year 2016, the company had planned to relaunch its major appliance business as well, mainly for kitchen and laundry rooms as well. The main reason for the business revival is to make sure that the company will be able to target the wave of millennials who are planning to buy homes or apartments and therefore need all the necessary appliances as well. As of the year 2017, the company had expected to close down two of its distribution centre and also almost 140 stores as well, because they were underperforming and had disappointing sales too. The company also planned to sack 6,000 employees as well. The headquarters of the company is based in 6501 Legacy Drive. The name of the place is Plano, while the name of the state is Texas, USA. The pin code of the area is 75024.
JC Penny is an American chain of departmental stores that helps to provide various kinds of products, for its customers to purchase, all over the states of the USA. As of the year 2018, the company has its presence in almost 864 locations all over the USA. The current CEO of the company is Jill Soltau. As of the year 2018, the company has been raking an overall revenue of almost $12 billion. Also, the number of employees working at the company, as of the year 2018, is more than 95,000.
The primary services provided by the company include allowing customers to have a retail presence in order to purchase various kinds of products, being sold by the company itself. The product categories include clothing, footwear, cosmetics, housewares, jewellery, appliances, electronics, furniture and also housewares too.
Please log in again. The login page will open in a new window. After logging in you can close it and return to this page.