The History Behind. Penney 's Spans For Over A Hundred Years

2127 Words Oct 6th, 2015 9 Pages
The history behind J.C. Penney’s spans for over a hundred years. James Cash Penny started the company in Wyoming, in 1907 he bought out his other 2 partners and over the next 6 years opened many stores throughout the mountain west. In 1913 he incorporated the business, moved to New York for better access to suppliers. By 1915 he had opened up 83 stores. He survived during the great depression because of the use of materials and leadership practices, higher quality for lower price. They grew to 1496 stores by 1936 and sales reaching $1 billion in sales by its 50th anniversary. Around 1961 is when they started incorporating themselves into shopping centers and strip malls.
Companies are always searching the competition to see who has what and who is doing better, peoples spending patterns and disposable income fell quickly is what J.C. Penney’s and other companies have found out. People are not as willing to go out and spend money on clothes and other things because of the recessions and depressions. Unemployment still remains at an all high but slowly getting better, companies are always scared of what could happen next and are always speculating. As of 2011 Macy’s and Walmart lead the pack with over $25 billion in sales and J.C. Penney’s coming in 4th after Kohl’. According to the financial summary J.C. Penney’s was doing very well and gaining until the stock market crash in 2008, things had to be changed around and many companies when out of business.
The thing that kept…
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