J.C. Penney’s has the desire to become America’s favorite retail destination for apparel, accessories and home fashion. With approximately 1,108 operating stores throughout the United States and Puerto Rico, they serve half of America’s families every year. They employ nearly 156,000 associates and strive to be number one in customer service. Despite the recent economic downturn, JCP maintained a steady cash flow and has been able to keep their company running strong.
J.C. Penney’s started out with James Cash Penney operating a dry goods store called Golden Rule with two other partners in Kemmerer, Wyoming in 1902. Around 1907 the other two partners were bought out by Penney and he was now responsible for operating three stores. At first the store was cash only, who mainly supplied to frontier miners and farmers from around the area. They supplied them with basic blue jeans and work clothes. In 1913, when he started to expand his chain, he phased out the name Golden Rule and implemented J.C. Penney Inc. Around 1914, the headquarters was moved from Salt Lake City to New York City to be closer to the merchandisers. Finally, from 1992, the headquarters has been located in Plano, Texas.
Every store is trying to maximize their profits and put focus on their highest potential growth opportunities. With constant revolutions in technology, many companies have adapted to the use of smart phones and the social media networks. JCPenney’s has recently developed a rewards system by enticing customers to spend money in order to receive more coupons. With the smart phone technology, they have utilized the ability for customers to receive these coupons straight to their cell phones. This idea creates convenience for customers w...
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...ited States boarders, regulations will be followed because their goal would be to create profit. If they were a problem child to the country, they would not be bringing in the revenues that may be possible.
All in all, if JCPenney’s continues to provide consumers with quality merchandise and keep the costs of doing this at a minimum, they will be able to maximize their profits and keep the stockholders happy.
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From Investor Relations: JCPenneyNews. 2011. Febuary 2011 .
Marzilli, T. (2013, April 24). Long-Term Look At Brand Perception Shows J.C. Penney Losing Ground Vs. Kohl's. Retrieved April 07, 2014, from http://www.forbes.com/sites/brandindex/2013/04/24/long-term-look-at-brand-perception-shows-j-c-penney-losing-ground-vs-kohls/
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J.C. Penney Corporation, Inc., is an American retail company, founded in April 14, 1902 by James Cash Penney. After graduating from high school, Penney worked for a local retailer. Later, using money from savings and a loan, Penney joined the partnership with Ron Johnson and Tom Callahan, and he moved with his wife and newborn son to Kemmerer, Wyoming, to start his own store. Subsequently, Callahan and Johnson dissolved their partnership in 1907 with Penney. James Cash Penney continued to benefit the growth and success of his business. J.C. Penney and this very day occupied in marketing apparel, jewelry, cosmetics, home furnishings, and cookware. Besides to selling prevailing merchandise, JCPenney stores many times house a number of leased
J. C. Penney Company, Inc. Is one of America’s largest department store, drugstore, catalog and e-commerce retailers. Providing merchandise and services through department stores, catalogs, and the Internet.
Technology does affect how JC Penney and other retail stores do their business. For example, with the new invention of cellphones, now managers must find ways to prevent their employees from using their devices while they are working. Using technology effectively can increase profits and revenues instead of harming the company. All of the companies must adapt to technology to increase and improve their customer service, speed the transactions, and effectively compete against other online stores. The internet allows customers to buy and search things online. JC Penney must have their company connected with the internet to attract more customers. Social media allows JC Penney to promote their services and products, stay involved with the community,
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"Wal-Mart Stores, Inc. is the world's largest retailer, with $285.2 billion in sales in the fiscal year ending Jan. 31, 2005. The company employs 1.6 million associates worldwide through more than 3,700 facilities in the United States and more than 2,400 units in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea, and the United Kingdom. More than 138 million customers per week visit Wal-Mart stores worldwide." (Walmartfacts.com)
This article is going to tackle the history of one of the largest multinational retailer with more than 8500 stores all over the world, “Walmart”. Walmart now employs more than 2.1 million people, and more than 200 million customers visit their stores every week.
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.
Wal-Mart is one of the world's greatest assets to most people. It provides consumer's a place they can go to virtually get anything they need from, car repairs, to groceries, prescription's, even the latest toys and electronics. With all that said, this paper relates to the different forces in business that affects business: competitive, economic, political + legal + regulatory, technological, cultural + social, demographic, and natural forces. Although there are technically seven we are going to focus on competitive, political, technological, and natural forces.
Some core competencies that must be exploited are: Brand Kmart is an existing well-known and trusted national brand in USA Kmart has private label and designer clothing that is well endorsed Infrastructure Kmart has a large number of well-located, low-cost, leased stores in urban far away from competitors through out the country ( Appendix B ). Staffing Confidence by the market in Kmart is created by the achievements of its staff and management. With the turn-around strategy in place, new blood has been put into the top management structures. In any renewal there will be retrenchment as unprofitable stores are closed. This can be used as an opportunity to retain and move high performing staff to where they are needed and to get rid of non-performing staff. Anderson the chairperson of Kmart is well supported by Wall Street and the board of Directors. These new staff members enter the company with needed skills to address problems in certain areas that previously were poorly managed such as inventory control and merchandising. Store locations, layout and Performance Stores conveniently located away from competitors like Wal-mart and Target therefore less to compete for customers face-to-face. There are 250 non-performing stores who have already been identified as being more cost effective to close than continue with running costs. Expertise exists in-house for the planning of store layout and appearance to meet different customer segments. This concentration of effort will enable focus on key areas Technology Kmart has already invested in good retailing systems. The system can be use to control inventory, supplier payments, track customer buying and monitor income versus profit margins across all stores. Research and Development The planning department is well established and in cross-functional to provide various perspective. The planning department to ensure that strategies at all levels are executed can further use the access to past data and knowledge of changes in buying patterns. Financial Backing JP Morgan Chase has agreed to support Kmart to avert the current threat of closure due to bankruptcy.