JCPenney

was founded in 1902 by James Cash Penney and William Henry McManus. The original name for the store that started J.C. Penney in the dry goods business was the "Golden Rule Store", but was changed to J.C. Penney in 1913, when Penney accepted a majority ownership of the chain, William McManus still being a partner. The mother store is located in Kemmerer, Wyoming.

In 1998, JCPenneys launched its third channel for shopping convenience. Its Internet store has grown into one of the largest apparel and home furnishings retail sites on the Internet. Among its general merchandise peers, the online store has the highest rate (10.1%) of converting site visitors into buyers. J.C. Penney also operated Eckerds Drugs.

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JCPenneys competes on an average price level on par with Sears. JCPenneys has also recently rivaled with Belk, Dillards, and Macys. However, the company competes below Bloomingdales, Neiman Marcus, Nordstrom and Saks Fifth Avenue. The J.C. Penny Bridal Registry is also popular.

JCPenneys News

- An employee of the Mexican consulate in Salt Lake City has filed a lawsuit against JC Penney, alleging a store clerk yelled obscenities at his family and called them "illegals" when he attempted to use his diplomatic tax-exempt privilege.

- NEW YORK, July 6, 2006 - J.C. Penney Co Inc. said on Thursday its June sales at department stores open at least a year rose 4.3 percent, beating expectations, and it raised its second-quarter earnings forecast.

- J.C. Penney Serves as Exclusive Presenter of the "Teen Choice 2006 Casting Call" Contest
FOX and JCPenneys are searching nationwide for a guy and a girl to be on stage and hand out the surfboard trophies at TEEN CHOICE 2006

- WASHINGTON (MarketWatch) -- J.C. Penney Co. (JCP) disclosed Wednesday that it will pay its newly appointed executive vice president and chief operating officer, Catherine G. West, a base salary of $750,000, which will be reviewed annually beginning in 2007.