The owner's method of financing the start of the company J.C. Penney Corporation, Inc., an American Retail Company, was created in 1902 by James Cash Penney. Currently, the company is involved in marketing clothing, home-based fixtures, jewelry, cosmetics, and cookware. Originally, incorporated as the J.C. Penney Stores Company from 1913 to 1924, and its present name, J.C. Penney Co., was reincorporated present in 1968. In the early 21st century, the company operated roughly 1,000 stores in the United States and Puerto Rico. Headquarters are in Plano, Texas (Encyclopaedia Britannica, 2014). The company’s humble beginnings can be traced to 1898, shortly after Mr. Penney left his parent’s farm to open a butcher shop in Longmont, Colorado. His business relied on purchases by a local hotel. When he refused to exchange liquor to the hotel cook in return for his trade, the butcher shop failed. Penney was then employed as a store clerk at the Golden Rule Store, a small dry goods retail store that contained work apparel, cloth, and sewing materials. His work ethic impressed the owners to the point of promoting him to manage their Evanston, Wyoming store in 1899. On April 14, 1902, they made him a one-third partner in their new store in Kemmerer, Wyoming on the Oregon Short Line Railroad, a town which had 1,000 residents by the time Penney arrived (McInnis, 2014). In order to solidify his partnership, Mr. Penney paid $2,000 for his stake of the store, a venture that proved to be very rewarding. He only had $500 in savings, so he took out an I.O.U with his partners to cover the remaining balance. The Golden Rule Store sold what mining families desired and it sold it at reasonable cost. In 1902, its first year, the store profited $8,000... ... middle of paper ... ...s, D. (2014, March 23). Is J.C. Penney at Death's Door? Retrieved from The Motley Fool: http://www.fool.com/investing/general/2014/02/17/is-jc-penney-at-deaths-door.aspx McInnis, D. (2014, March 23). James Cash Penney: From Clerk to Chain-store Tycoon. Retrieved from Wyoming State Historical Society: http://www.wyohistory.org/encyclopedia/james-cash-penney-clerk-chain-store-tycoon Morningstar. (2014, March 23). J.C. Penney Co Inc JCP. Retrieved from Morningstar: http://financials.morningstar.com/ratios/r.html?t=JCP MSN Money. (2014, March 23). Penney Co Inc (NYSE: JCP). Retrieved from MSN Money: http://investing.money.msn.com/investments/stock-price?Symbol=jcp&ocid=qbeb The State Historical Society of Missouri. (2014, March 23). James Cash Penney. Retrieved from Historic Missourians: James Cash Penney: http://shs.umsystem.edu/historicmissourians/name/p/penney/
Postrel, Virginia. “In Praise of Chain Stores.”Model Essays: A Portable Anthology. Eds. Jane E. Aaron and Ellen Kuhl Repetto. Boston: Bedford/St. Martin’s, 2013. 345-49
It’s a place everyone knows, much like the post office or even city hall. Wal-Mart. That is where the oddity lies, in the fact that a retail store is just as well known as staples for towns across the nation; not to mention the fact that Wal-Mart isn’t just in the United States, but around the world. Founder of the billion dollar industry, Sam Walton, did expect success from his endeavor, but no one could have foreseen just how influential the retail store would be. Wal-Mart is an astonishingly successful business with humble beginnings, but may have a rocky road ahead in terms of social issues due to the treatment of employees and it's strong effects on the economy.
JCPenney is a chain of American mid-range department stores that is based out of Texas that started over 100 years ago. JCPenny has been successful for most of its time up until the last three to four years. The company is trying relentlessly to overcome the lingering effects of the makeover that former CEO, Ron Johnson, had implemented in order for the company to take a new direction in hopes of increasing sales. The new CEO, Myron Ullman, has taken a close look into the markets demographic segmentation along with the income segmentation in order to attempt to return the retailer back to its old self, which is to appeal to middle-market customers. A couple issues of major concern for the company are the dissolving of Johnson’s Boutiques, the price of their products, and overall revenue.
Federated Department Stores was founded in 1929, the same year the stock market crash signified the commencement of the Great Depression, with the merger of Abraham & Straus of Brooklyn, Filene’s of Boston, F&R Lazarus & Co. of Columbus, Ohio and Bloomingdale’s of New York. Recognizing economic sensitivity to the Great Depression and WWII, Federated initially focused its efforts on ground-breaking retail tactics such as accommodating credit policies. In the mid to late 1900’s, Federated shifted its endeavors to growth and development, having increased its stores by 400 percent between 1964 and 1979. Although the company filed for bankruptcy in 1988 because of a failed takeover by Robert Campeau, a Canadian real-estate developer, Federated persevered through the tough times by taking risks and embracing change. While originally being composed of four family-owned department stores in 1929, Federated is now comprised of over 450 stores and is known as one of the leading department store operators in the industry.
Montgomery Ward & Co, Incorporated is a national retailer with more than 400 stores in 43 states. It is the ninth-biggest US retailer and the biggest secretly held company in the nation. The organization worked various retailing ideas, including the leaders company, which held up to...
... J. P. Morgan and Company to reflect his power. Morgan also got a stranglehold on several other industries by buying out Carnegie Steel, oil companies, and railroads. Morgan soon went back to his roots and started acquiring more banks, financial firms, and insurance providers. (Moritz 35-39) Today, J. P. Morgan and Company is known as JPMorgan Chase, easily the world's largest global financial services firm.
Drew, Kathryn. “Stock Highlight: priceline.com.” Value Line. Value Line, 29 May 2013. Web. 25 March 2014.
When Richard Sears first began a small retail business selling watches in 1886, he could have dreamed of his store becoming a success but the success it has become, had to be beyond his expectations.
Wal-Mart initially began its operations in 1945, when Sam Walton leased a ‘Ben Franklin’ franchise variety store in Newport, Arkansas. After relocating to Rogers, Arkansas in the early 1950s, Sam Walton’s ‘Ben Franklin’ became ‘Walton’s 5 & 10’. By 1962, Walton found himself the chain owner of 11 different Walton’s stores across Arkansas. He then decided to rename the chain ‘Wal-Mart’, after himself. On October 31, 1969, after further expansion across the state, the chain was incorporated as Wal-Mart Stores, Inc. Three years later, Wal-Mart was approved and listed on the New York Stock Exchange (NYSE).
Yahoo! Finance (2014, January 31). MCD Competitors | McDonald's Corporation Common S Stock - Yahoo! Finance. Retrieved January 21, 2014, from http://finance.yahoo.com/q/co?s=MCD
- - -. "Trader Joe's Company Company Profile." Yahoo Finance. Yahoo Finance, N.d. Web. 19 Jan. 2014. .
Aside from these two images we are able to see the images of a coach. This is because they were able to guide all of their employees in right direction. With all of the images J.P. Morgan Chase & Co was able to guide their employee in the correct direction and providing them with the job security that they need during these changes.
Hoffman Estates, Illinois-based Sears Holdings Corporation was formed as a result of Kmart Holdings Corporation’s acquisition of Sears & Roebuck Company. It was incorporated on November 23, 2004. It is an integrated retailer and holdings company to a variety of well-known, highly-quality consumer brands.
The first Wal-Mart store opened in July of 1962 in Rogers, Arkansas by Sam Walton who believed that the future of retailing was in discounting and to avoid competing with established giants like Sears and Woolworth, Wal-Mart’s stated out of the large cities in the beginning and this strategy help avoid competition, while in rural areas Wal-Mart began growing their customer base by offering ways to save money and shorter travel distance, Sam Walton felt the best way to make customers happy was to provide the low prices every day (Farhoomand, 2006). The company needed to continually find ways to control the operating costs so the savings would then be passed on to Wal-Mart customers in the form of lower prices than the competitors. Walton was opposed to having any kind of employee unions for its company and saw them as a disruption and an inconvenience (Farhoomand, 2006). The continued search for lower prices made him aware of business related travel cost, Wal-Mart executives stayed in low cost hotels when they traveled and the cost related to the services provided by suppliers, Wal-Mart helped suppliers improve operations and efficiency to produce lower cost. Walton wanted the suppliers to correct any nonessential or insufficiencies existing in their business structures as a way of gaining lower prices and higher value products for its Wal-Mart stores. To further push savings Wal-Mart forced cost down by eliminating the middleman and buying directly from the manufacturers. This cost saving also applied to executive salaries Walton felt providing employees with stock options, training opportunities, and allow employees to grow and develop would be a better way to engage and involve them in his vision (Farhoomand, 2006).