J. C. Penney Company, Inc. (nyse: JCP; most commonly known today by the name JCPenney or simply Penney's) is a mid-range chain of American department stores based in Plano, Texas, a suburb north of Dallas. The company operates 1,093 department stores in 49 of the 50 U.S. states (except Hawaii) and Puerto Rico and 6 stores in JCPenney Mexico which are controlled by Mexican capital (Sold on 2003) . J. C. Penney also operates catalog sales merchant offices nationwide in many small markets.
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J. C. Penney Company, Inc. (nyse: JCP; most commonly known today by the name JCPenney or simply Penney's) is a mid-range chain of American department stores based in Plano, Texas, a suburb north of Dallas. The company operates 1,093 department stores in 49 of the 50 U.S. states (except Hawaii) and Puerto Rico and 6 stores in JCPenney Mexico which are controlled by Mexican capital (Sold on 2003) . J. C. Penney also operates catalog sales merchant offices nationwide in many small markets.
In addition to selling conventional merchandise, J. C. Penney stores often house several leased departments such as Optical, Portrait Studios, Jewelry & Watch repair, etc.
Penney's
J. C. Penney company
The Treasury, catalog, and full-line stores
In 1962, J. C. Penney entered discount merchandising with the acquisition of General Merchandise Company which gave them The Treasury. J. C. Penney closed the money-losing discount stores in 1981. In 1963, J. C. Penney issued its first catalog. The company operated in-store catalog desks in eight states. The catalogs were distributed by the Milwaukee Catalog distribution center. The company also opened its first full-line department stores in 1963. Those stores were located in Audubon, New Jersey and King of Prussia, Pennsylvania. Those two stores broaden the lines of merchandise and services that a typical J. C. Penney carries to include appliances, sporting goods, garden merchandise, restaurants, beauty salons, portrait studios, auto parts and auto centers. In 1966, J. C. Penney finished off the country's 50 states with the opening of its Honolulu, Hawaii store.
1969-1979
In 1978, the J. C. Penney Historic District in Kemmerer, Wyoming, was designated a U.S. National Historic Landmark.
1984-1997
In 1984, J. C. Penney acquired the First National Bank of Harrington, Delaware and renamed it J. C. Penney National Bank. With the bank the company became able to issue its own MasterCard and Visa cards. The company also began accepting American Express cards. The company headquarters were relocated again in 1987 to Dallas, Texas. In the 1980s, JCPenney phased out its electronics and auto departments, and also sold its auto repair shops. After several years of development, the J. C. Penney Television Shopping Channel appeared on cable systems beginning in 1989. In 1990, the company broke ground on the company's new corporate headquarters in Plano, Texas. It was completed in 1992. When Sears closed its catalog business in 1993, J. C. Penney became the largest catalog retailer in the United States. In 1996, the company expanded its drug store business with the acquisition of Fay's Drug and Kerr Drug. These acquisitions momentum climaxed with acquisition of the Eckerd chain in November. Fay, Kerr, and Eckerd merged into J. C. Penney's drug store subsidiary Thrift Drug. Fay, most Kerr, and Thrift drug stores were re-branded Eckerd in 1997. (Kerr Drug stores in The Carolinas remain branded as such.)
