JC Penney Facts

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JC Penney Facts

JC Penney Company (most commonly known today by the name JCPenney) is a department store chain based in the Dallas, Texas suburb of Plano.
JC Penney History

The chain was founded in 1902 by James Cash Penney. The original name for the store was the “Golden Rule Store” (Penney was the son of a Southern Baptist minister, and believed that the stores should operate under the Golden Rule of the Bible), but was changed to JC Penney in 1912. The mother store is located in Kemmerer, Wyoming.

JC Penney Department Stores
JC Penney operates 1,050 JC Penney department stores in all the U.S. states (except Hawaii) and in Puerto Rico. The Company also operates 50 Renner department stores in Brazil.

JC Penney stores sell fashion at value prices. Its target customers fall into the middle of the American population. They have a family household income ranging from $30,000 to $80,000 a year. Sales totaled $15 billion in 2003.

JC Penney is America’s largest direct merchant of general merchandise. Its catalog-ordering network is the largest in the United States. It handles 35 million telephone calls a year. Direct’s four state-of-the-art logistics centers process more than 33 million orders a year. JC Penney Direct publishes and distributes 384 million catalogs annually. They include 94 catalog titles serving distinct consumer groups. Catalog sales (including Internet sales) totaled $2.6 billion in 2003.

JC Penney Internet Store

In 1998, JC Penney launched its third channel for shopping convenience, its Internet store. In the seven years since, it has grown into one of the largest apparel and home furnishings retail sites on the Internet. Among its general merchandise peers, jcpenney.com has the highest rate (10.1%) of converting site visitors into buyers.

It has grown from annual sales of $15 million in 1998 to more than $600 million in 2003. The Company anticipates that the online store will top $1 billion in sales in the next few years.

 

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