Retail Experience Working For Golden Rule Mercantile Company Essay

Retail Experience Working For Golden Rule Mercantile Company Essay

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James Cash Penney, founder of JCPenney stores, gained his retail experience working for Golden Rule Mercantile Company, after graduating from high school in 1902. He quickly rose through the ranks as a salesperson, store manager, and partner. In 1906, at the age of 26, he opened his first retail store in Kemmerer, Wyoming the first to become JCPenney store. 1913, he had 34 stores with over $2 million in sales and incorporated JCPenney Company, Inc. JCPenney’s success was due to the popular private-label brand that were good quality, lower prices than the named brands, and these products yielded high profits. In 1927, headquarters opened in New York and in 1929, the company listed on the New York Stock Exchange and store manager/owners traded in their portions of individual stores for stock in the company. JCPenney’s survives the depression, providing basic goods and services at lower prices and increased profits.
In 1957, JCPenney issued their first card. Mail order business started in 1962 when they purchased a Wisconsin discount store, General Merchandise Company. Catalogs were mailed a year later for the first time and the Catalog distribution center was located in Milwaukee WI. In 1975, they sold 3 billion shares of common stock. JCPenney is the second largest catalog merchandiser in United States. In 1982, JCP headquarters moves to Dallas, TX and reorganization has started to turn to national department stores and expand fashions for family and focus on home furnishings. The 1980’s and 1990’s capital expenditures increased by $2.1 billion, added 100 new stores and refurbished 500 more.
By 2005, an Internet point of sales system launched and gave customers access to all merchandise. JCP i...

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...tion, supply chain improvements, pricing and clearance options. Expense reduction will result by controlling costs, marketing, process improvements and promoting private label credit card usage. The ultimate goal is to reach $1billion in EBITDA by end of year January 2017.
2016 has already shown sales revenue is flat, but operating expenses decreased by 8% and may result in a breakeven or positive net income at year-end. Reuters analyst predicts sales revenues will increase $500 million per year with EPS of .2 in 2017 and .8 in 2018. (Rueters Fundamentals, 2016). Value Line estimates show gradual increase in sales revenues as well, with net income at $0 for 2016, $185 million for 2017 and $360 million for 2018-2021. EPS will increase to $.60 to $1.15 respectively. Stock prices expect to rise in the $10 to $20 range thru 2020. (Value Line, Inc., 2016).

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