With the newly hired Chief Executive, Ron Johnson, JC Penny’s retail stores are preparing to make some risky changes to lower prices and offer great in-store sales incentives in an effort to increase its consumer base (JC Penney). Mr. Johnson is developing a comprehensive program designed to increase long-term success, called a strategic plan (Kinicki, 2015). While competing with other retail chains, JC Penney decided to change the floor plan of its stores to include an open area called the “Town
J.C. Penney Company, Inc., or Penny’s for short, is a Texas based chain of department stores located throughout the United States and Puerto Rico. Penney’s namesake, John Cash Penney, entered the retail business in 1898 after graduating high school and worked for several retailers. Ultimately, Penney took ownership interest and grew his chain of stores until 1913 when he entered into partnership with William Henry McManus whereupon they officially incorporated as J.C. Penney Company. Penney’s
When JCPenney first opened they were more than just fashion. They were a one-stop shop location; it was once the largest department store chain in the country. (Ofek) However, JCPenney was popular for more than just its products. Founder James Cash Penney had the philosophy that customers should be treated the way he would want to be treated. Although JCPenney is still a well-known name, the company has been on the decline for a while, showing poor performance year after year. Taking a look at some
description, J.C. Penney Company Inc., commonly referred to as J.C. Penney and JCP among the younger generation of consumers and population, is a large chain of medium range department stores within America with their headquarters in Plano, Texas. J.C. Penney is in charge of 1,107 operational department stores located in the 50 states of the U.S. as well as in Puerto Rico. In previous history, the company was involved in the operation of a number of discount outlets. J.C. Penney is not only involved