J. C. Penney Company, Inc that is mostly known as JCPenney or simply Penney’s) is a mid-range chain of American department stores based in. Until 2004, JCPenney also operated Eckerd Drugs and fifty department stores in Central and South America.
In addition to sale of conventional merchandise, JCPenney is also home to several leased departments such as Optical, Portrait Studios, Jewelry Watch repair, etc.
JCPenney was founded in 1902 by James Cash Penney and William Henry McManus. The mother store is located in Kemmerer, Wyoming and still operates as of 2007.
Today, most JCPenney stores are located in suburban shopping malls. Previously, most stores were located in downtown areas. As shopping malls became more popular in the latter half of the 20th century, JCPenney relocated its stores to shopping malls. However, in recent years, the chain has been following a retailing trend in opening some standalone stores. The company is an Internet retailer and has undergone significant institutional changes to compete in the ever changing retail landscape. Increased competition from big box retailers like Wal-Mart and Target have forced JCPenney to focus on private brands such as St. John’s Bay, Worthington, and Arizona Jean Company. It has streamlined its catalog and distribution while undergoing renovation improvements at store level.
After JCPenney sold off Eckerd in 2004, the locations that continued to operate as Eckerd (locations in the Southern U.S. were sold to CVS Corporation) still had J.C. Penney Catalog Centers inside the stores (which was a carryover from locations that were once Thrift Drug) and also continued to accept J.C. Penney credit cards. After Rite Aid finalized its acquisition of Eckerd in 2007, the Catalog Centers inside the soon-to-be-converted Eckerd stores permanently closed, although as a result of the acquisition, Rite Aid now accepts JCPenney credit cards, even at Rite Aid locations that existed before the takeover of Eckerd.
