JC Penney Company Overview JC Penney Co. Incorporated was founded in 1902 in Kemmerer, Wyoming by James Cash Penney and William Henry McManus. Today JC Penney offers a range of family apparel, jewelry, shoes, accessories, and home furnishing products through a chain of department stores and their company website. JC Penney, headquartered in Plano, TX, operates in the United States and Puerto Rico, with a total of 1,108 stores. JC Penney also offers its products through a catalog channel. Each channel serves the same type of customers and provides generally the same merchandise mix. JC Penney’s business is conducted through a single segment, but revenues are reported by product category. In addition to their product categories, the …show more content…
They believe that exclusive associations with brands will enable them to leverage on the popularity of the brands. Also exclusivity makes them stand out from competitors. JC Penney’s effective inventory and cost management led to record gross profit. This was caused by a combination of internal factors like tight alignment between sales and inventories, significantly reduced clearance activity, strength in sourcing, and improved performance of private label brands. J.C. Penney has established themselves as one of the leading retailers in the United States, and therefore, has a well known name and band of loyal customers. A recent report on J.C. Penney Corporation, Inc. states strengths that JC Penney Co. has compared to competing corporations. J.C. Penney’s focuses on customer service to keep them coming back. They developed a training focusing on putting the customer first. The training is enhancing the Associate Engagement scores which continue to translate into enhanced customer service. They provide a JCP Rewards loyalty program, which has over 4 million customers. They believe that outstanding customer service will drive customers to spend more and shop more often than an average customer. They also have private and exclusive brands such as Sephora and American Living. In 2008 private and exclusive brands together accounted for approximately 50 percent of