History of Jcpenney and Target

2002 Words Jul 27th, 2014 9 Pages
History of J.C. Penney and Target
By Rebecca Raschke

J.C. Penney
James Cash Penney and two partners opened the Golden Rule dry-goods store in 1902 in Kemmerer, Wyoming. The following two years they opened another two stores in other parts of Wyoming. In 1907, Penney bought out his two partners and took on new ones. By that time Penney had 34 stores and had $2 million in sales. The firm was incorporated in 1913 as the J.C. Penney Company Corporation. The company moved headquarters to New York City the following year and in 1915 stores had opened in Mississippi and Wisconsin. In 1917 Penney became chairman of the board and had opened 175 stores and Earl Sams became president of the company.
As Penney became wealthier so did his
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In 1998, J.C. Penney launched its first internet retail site and has grown to be one of the largest online retailers today. In 1995 it had $1 billion in annual sales.
In 2006, J.C. Penney partnered with Sephora, a cosmetic chain and also American Living brand by Ralph Lauren. J.C. Penney continues to receive a significant percentage of its sales through online purchases and also discontinued its catalog sales during this time. Target
In 1902 Target Corporation was founded by George Draper Dayton. He was a banker and real estate agent. After several years in banking and real estate he purchased land on Nicollet Avenue and formed the Dayton Dry Goods Company, today known as Target Corporation.
Dayton became a partner in Goodfellow’s Dry Good Company, which was the fourth largest department store in Minneapolis. The following year he toke sole ownership of the store and became president of that company. He remained active in the stores management until his death in 1938. His son and grandson toke over leadership and the company grew into a nationwide retailer.
In 1911 the Dayton Dry Good Company was renamed to the Dayton Company after rapid growth to better reflect its wide assortment of goods and services.
In 1916, the Dayton Company became a founding member of the Retail Research Association, a cooperative of leading retailers. In 1918 the association expand and is renamed the Associate Merchandise Corporation.
George Dayton
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