James Cash Penney
Penney circa 1902
James Cash Penney Jr.
September 16, 1875
|Died||February 12, 1971 95) (aged|
|Known for||Establishing J. C. Penney department stores in 1902|
Bertha Alva Hess
(m. 1899;her death 1910)
Mary Hortense Kimball
(m. 1919;her death 1923)
Caroline Marie Autenrieth
(m. 1926;his death 1971)
James Cash Penney III
Mary Frances Penney
|Parent(s)||James Cash Penney Sr.|
Mary Frances Paxton
James Cash "J. C." Penney Jr. (September 16, 1875 – February 12, 1971) was an American businessman and entrepreneur who founded the J. C. Penney stores in 1902.
J. C. Penney Company, Inc. is an American department store chain with 865 locations in 49 U.S. states and Puerto Rico. In addition to selling conventional merchandise, J. C. Penney stores often house several leased departments such as Sephora, Seattle's Best Coffee, salons, auto centers, optical centers, portrait studios, and jewelry repair.
J.C. Penney was born on September 16, 1875, on a farm outside of Hamilton, Caldwell County, Missouri. He was the seventh of twelve children, only six of whom lived to adulthood, born to James Cash Penney, Sr. and Mary Frances (née Paxton) Penney. Penney's father was a Baptist preacher and farmer whose strict discipline included making his son pay for his own clothing once he reached his late pre-teens.
Caldwell County is a county located in Missouri, United States. As of the 2010 census, the county's population was 9,424. It is part of the Kansas City metropolitan area. Its county seat is Kingston. The county was organized December 29, 1836 and named by Alexander Doniphan to honor John Caldwell, who participated in George Rogers Clark's Native American Campaign of 1786 and was the second Lieutenant Governor of Kentucky.
Baptists are Christians distinguished by baptizing professing believers only, and doing so by complete immersion. Baptist churches also generally subscribe to the doctrines of soul competency, sola fide, sola scriptura and congregationalist church government. Baptists generally recognize two ordinances: baptism and communion.
After graduation from Hamilton High School, Penney intended to attend college with the hopes of becoming a lawyer. However, his father's untimely death forced a change in plans, and Penney was forced to take a job as a store clerk to help support the family. Penney's health problems caused him to venture west to Longmont, Colorado.
Longmont is a Home Rule Municipality in Boulder and Weld counties of the U.S. state of Colorado. Longmont is located northeast of the county seat of Boulder and 33 miles (53 km) north-northwest of the Colorado State Capitol in Denver.
In 1898, James Cash Penney began working for a small chain of stores in the western United States called the Golden Rule stores. In 1902, owners Guy Johnson and Thomas Callahan, impressed by his work ethic and salesmanship, offered him one-third partnership in a new store he would open. Penney invested $2,000 and moved to Kemmerer, Wyoming, to open a store there. He participated in opening two more stores, and when Callahan and Johnson dissolved their partnership in 1907 he purchased full interest in all three stores.
Kemmerer is the largest city in and the county seat of Lincoln County, Wyoming, United States. The population was 2,656 at the 2010 census. As the county seat of Lincoln County, Kemmerer is the location of the Lincoln County Courthouse.
By 1912, there were 34 stores in the Rocky Mountain States. In 1913, he moved the company to the Kearns Building in downtown Salt Lake City, Utah. The company was incorporated under the new name, J. C. Penney Company. In 1916, he began to expand the chain east of the Mississippi and during the 1920s, the Penney stores expanded nationwide, with 120 stores in 1920 (mostly still in the west) By 1924, Penneys' reported income of more than $1 million annually. 120,000 acres (490 km2) in Clay County. Some of this land became Penney Farms. This was also the start of Foremost Dairy Products Inc. Penney later recruited Paul E. Reinhold to run the dairy. Most of this work was halted when the stock market crash of 1929 and the Great Depression left Penney in financial ruin.The number of stores reached 1,400 by 1929. The large income allowed Penney to be heavily involved in many philanthropic causes during the 1920s. By 1921 Penney had a home (Belle Isle) on Biscayne Bay in Miami. Penney and partner Ralph W. Gwinn had invested heavily in Florida real estate including
Salt Lake City is the capital and most populous municipality of the U.S. state of Utah, and county seat of Salt Lake County. With an estimated population of 190,884 in 2014, the city is the core of the Salt Lake City metropolitan area, which has a population of 1,153,340. Salt Lake City is further situated within a larger metropolis known as the Salt Lake City–Ogden–Provo Combined Statistical Area, a corridor of contiguous urban and suburban development stretched along a 120-mile (190 km) segment of the Wasatch Front, comprising a population of 2,423,912. It is one of only two major urban areas in the Great Basin.
Biscayne Bay is a lagoon that is approximately 35 miles (56 km) long and up to 8 miles (13 km) wide located on the Atlantic coast of South Florida, United States. It is usually divided for purposes of discussion and analysis into three parts: North Bay, Central Bay, and South Bay. Its area is 428 square miles (1,110 km2). The drainage basin covers 938 square miles (2,430 km2).
Miami, officially the City of Miami, is an American city that is the seat of Miami-Dade County, and is the cultural, economic and financial center of South Florida. The city covers an area of about 56 square miles (150 km2) between the Everglades to the west and Biscayne Bay to the east. Miami is the sixth most densely populated major city in the United States with an estimated 2018 population of 470,914. The Miami metropolitan area is home to 6.1 million people, the second-most populous in the southeastern United States and the seventh-largest in the nation. The city has the third tallest skyline in the U.S. with over 300 high-rises, 55 of which exceed 490 ft (149 m).
After the 1929 stock crash, Penney lost virtually all his personal wealth and borrowed against his life insurance policies to help the company meet its payroll. The financial setbacks took a toll on his health. Penney checked himself into the Battle Creek Sanitarium, where he was treated. After hearing the hymn "God Will Take Care of You" (written by Civilla Durfee Martin) being sung at a service in the hospital's chapel, Penney became a born-again Christian.Even after relinquishing daily operating management of the company, Penney continued his active involvement in managing the company and its stores. In 1940, during a visit to a store in Des Moines, Iowa, he trained a young Sam Walton on how to wrap packages with a minimal amount of paper and ribbon. He remained as chairman of the board until 1946, and after that as honorary chairman until his death in 1971. Until the end of his life, he continued to go to his offices.
The Battle Creek Sanitarium was a health resort in Battle Creek, Michigan, United States, founded 1866 and originally based on the health principles advocated by the Seventh-day Adventist Church. Following the disfellowshipping of Dr. John Harvey Kellogg in 1907, Kellogg said that he and his employees were "independents" who "did not belong to any church" and the Sanitarium promoted Kellogg's theory of "biologic living" based on Adventist principles.
Iowa is a state in the Midwestern United States, bordered by the Mississippi River to the east and the Missouri River and Big Sioux River to the west. It is bordered by six states; Wisconsin to the northeast, Illinois to the east, Missouri to the south, Nebraska to the west, South Dakota to the northwest, and Minnesota to the north.
Samuel Moore Walton was an American businessman and entrepreneur best known for founding the retailers Walmart and Sam's Club. Wal-Mart Stores Inc. grew to be the world's largest corporation by revenue as well as the biggest private employer in the world. At one point in his life, he was the richest man in America.
He also subscribed to what was called "Blue Laws". His stores were closed on Sunday so employees could attend church.
Penney was married three times. His first marriage, to Bertha Alva Hess (1869–1910) in 1899,produced two sons before her death from pneumonia:
After Bertha's death in 1910, he remarried to Mary Hortense Kimball (d. 1923) in July 1919. Mary gave birth to their son before her death of unspecified medical issues:
In 1926, Penney married Caroline Marie Autenrieth (1895–1992).She was badly hurt in 1928 when she fell from a horse at their estate in White Plains. They had two daughters:
Penney lived in New York City at 888 Park Avenue, though he spent the winters in Palm Springs, California. On December 26, 1970, Penney fell and fractured his hip. Just a few weeks later, he suffered a heart attack and never fully recovered. He died on February 12, 1971. The Reverend Dr. Norman Vincent Peale delivered the eulogy at Penney's funeral. Penney was buried in Woodlawn Cemetery in The Bronx, New York City, not far from that of fellow retail entrepreneur, F. W. Woolworth. His estate was valued at approximately $35 million.
Penney was a Freemason most of his adult life, being initiated into Wasatch Lodge No. 1 Free and Accepted Masons of Utah, on April 18, 1911.A member of both the Scottish and York Rites, Penney was coroneted a 33rd Degree on October 16, 1945, and received the Gold Distinguished Service Award by the General Grand Chapter, Royal Arch Masons, in Kansas City, Missouri in 1958. He typically wore a large ring showing his Masonic degree.
Penney was a member of two professional collegiate fraternities: Alpha Gamma Rho for agriculture and Alpha Kappa Psi for business.
Penney was involved with the founding of the University of Miami and served on its Board of Trustees from 1926 to 1930.
At the end of the Great Depression, Penney teamed with Thomas J. Watson, President and Founder of IBM, Arthur Godfrey, the radio and TV personality; and Norman Vincent Peale, a minister, inspirational speaker, and author of The Power of Positive Thinking, to help Henry Simler, an executive with the Remington Rand company. [ citation needed ]form the first board of 40Plus, an organization that helps unemployed managers and executives.
Penney founded the James C. Penney Foundation in 1954. The foundation was restructured in 1999 as the Penney Family Fund, and is no longer affiliated with J.C. Penney Co., Inc., or its corporate giving program. Today, the fund is part of the Common Counsel Foundation, an Oakland, California, consortium of family philanthropic foundations and individual donors. The Penney Family Fund endows organizations in Oregon, California, and Washington State that work to advance human rights, community social, political, economic empowerment, government accountability, and environmental sustainability.
In 1960 Penney teamed up with the University of Missouri to establish the Penney-Missouri Awards to recognize excellence in Women's Page journalism, hoping to improve the sections where his stores most often advertised.
Frank Winfield Woolworth was an American entrepreneur and the founder of F. W. Woolworth Company and the operator of variety stores known as "Five-and-Dimes" or dimestores, which featured a low-priced selection of merchandise. He pioneered the now-common practices of buying merchandise directly from manufacturers and fixing the selling prices on items, rather than haggling. He was also the first to use self-service display cases, so customers could examine what they wanted to buy without the help of a sales clerk.
Macy's is an American department store chain founded in 1858 by Rowland Hussey Macy. It became a division of the Cincinnati-based Federated Department Stores in 1994, through which it is affiliated with the Bloomingdale's department store chain; the holding company was renamed Macy's, Inc. in 2007. As of 2015, Macy's was the largest U.S. department store company by retail sales. As of February 2019, there were 584 full-line stores with the Macy's nameplate in operation throughout the United States, Puerto Rico, and Guam. Its flagship store is located at Herald Square in the Manhattan borough of New York City. The company had 130,000 employees and earned annual revenue of $24.8 billion as of 2017.
The Disney Store is an international chain of specialty stores selling only Disney related items, many of them exclusive, under its own name and Disney Outlet. Disney Store is a business unit of Disney Parks, Experiences and Products.
J.J. Newberry's was an American five and dime store chain in the 20th century. It was founded in Stroudsburg, Pennsylvania, United States, in 1911 by John Josiah Newberry (1877–1954). J.J. Newberry learned the variety store business by working in stores for 17 years between 1894 and 1911. There were seven stores in the chain by 1918.
Mail order is the buying of goods or services by mail delivery. The buyer places an order for the desired products with the merchant through some remote method such as:
Ron Johnson is the former chief executive officer of J. C. Penney. He was responsible for an expensive and ill-conceived rebrand of J. C. Penney, which led to company shares declining 51% and his firing in 2013. Previously, he was the senior vice president of retail operations at Apple Inc., where he pioneered the concept of the Apple Retail Stores and the Genius Bar, and the vice president of merchandising for Target Corporation, where he was credited for making the store "hip." He is currently the head of Enjoy, a startup company and he serves on the Board of Directors for Globality Inc., a start-up company based in Menlo Park, CA.
Northridge Fashion Center is a large shopping mall located in Northridge, Los Angeles, California. It opened in 1971. It was severely damaged during the Northridge earthquake in 1994, but renovated extensively in 1995, 1998, and 2003. The mall's anchor stores are J. C. Penney, two Macy's locations, Sears, and a Pacific Theatres movie theater.
Regency Mall is an enclosed super-regional shopping mall in Racine, Wisconsin. The mall has a gross leasable area of 872,409 square feet (81,049.4 m2). It features 110 retail spaces and is anchored by Burlington Coat Factory and Dunham's Sports. Located at the junction of state highways 31 and 11, the building is surrounded by several freestanding stores and restaurants, including a Target department store.
C.R. Anthony Co., stores branded as Anthony's, was a chain of family-owned and - operated upscale department stores founded in 1922 in Cushing, Oklahoma by C.R Anthony. The company began expanding outside Oklahoma, first into Kansas in 1924, then into Texas in 1925. By 1972, Anthony's had 325 stores in 21 states, all west of the Mississippi River. Anthony's was acquired by Stage Stores Inc. in 1997 and most stores were rebranded as Stage or Beall's.
J. C. Penney Historic District is a historic district in Kemmerer, Wyoming encompassing several properties associated with James Cash Penney. The district includes the Golden Rule Store, the first in what became the J. C. Penney department store chain.
University Mall is a shopping mall in Carbondale, Illinois, United States. Opened in 1974, it originally featured J. C. Penney and Sears as its major anchor stores, the latter taking the place of a Britt's discount store which never opened for business. A 1980 expansion added a new wing with a Meis department store, which was sold to Elder-Beerman in 1989, while Sears relocated to Illinois Centre Mall and was replaced by Montgomery Ward. Further expansion in 1991 added several new tenants, along with a food court and the anchor stores Famous-Barr and Venture Stores. The latter closed in 1993 and was converted to K's Merchandise Mart; Elder-Beerman and Montgomery Ward also closed in the 1990s, with the former undergoing conversion to offices and the latter being subdivided for a theater and smaller stores. Famous-Barr converted to Macy's in 2006, and K's Merchandise Mart closed in 2007. The mall has seen several closures in stores throughout the 21st century; remaining mall tenants include J. C. Penney, Macy's, Shoe Dept. Encore, Ross Dress for Less, Old Navy, and Bed Bath & Beyond. University Mall is managed by Namdar Realty.
Woodville Mall was an enclosed shopping mall off of Woodville Road in Northwood, Ohio, outside the city of Toledo, Ohio. The mall opened in 1969 and, after losing most of its stores in the 2000s, became a dead mall. The mall (interior) was closed in December 2011 and demolished in March 2014.
The J. C. Penney House in Kemmerer, Wyoming was the home of James Cash Penney, the founder of the J. C. Penney department stores, during the 1904-1909 period that he developed his formula for a successful dry goods store. Penney and wife moved to Kemmerer in 1902 and lived in the garret of a small house. With a child, it was too small, and Penney bought this two-story house in 1904. It was small, too: about 25 feet (7.6 m) wide and sloping down to the back, going about 30 feet (9.1 m) deep.
Eastland Mall is an enclosed shopping mall in Columbus, Ohio. Opened in 1968, it no longer has any open anchor stores. Its four vacant anchors were originally occupied by Lazarus, Kaufmann's, Sears, and JC Penney. The mall is managed by Woodmont Management.
James M. McDonald was an American retailing executive. He helped to build the JCPenney department store chain, as well as a chain of department stores under his own name.
Cross County Mall is a shopping mall in Mattoon, Illinois, U.S. It was opened in 1971 and it features J. C. Penney and Rural King, with one vacant anchor location last occupied by Carson's. The mall is owned by Rural King Realty.
The Missouri Lifestyle Journalism Awards were first awarded in 1960 as the Penney-Missouri Awards to recognize women's pages that covered topics other than society, club, and fashion news, and that also covered such topics as lifestyle and consumer affairs. The Penney-Missouri Awards were often described as the "Pulitzer Prize of feature writing". They were the only nationwide recognition specifically for women's page journalists, at a time when few women had other opportunities to write or edit for newspapers.
CenterMark, formerly known as May Centers, was a mall development company owned by a consortium of Westfield Holdings Ltd., General Growth Properties, and Whitehall Street Real Estate L.P. III. And it was formerly owned by The May Department Stores Company until 1992, and Prudential Insurance until 1993.