What type of business is jcpenney

In particular, it uses its Twitter account as an additional customer care channel. JC Penney is a holding company. Through its principal operating company, JC Penney Corporation Inc, the Company operates a digital and physical retail business.

The Company operates through two principal channels, selling merchandise and services to consumers through its network of more than 1, department stores and its website at www. The Company's department stores and website offer almost identical product catalogues.

JC Penney operates an extensive distribution and storage network across the US, with online customer purchases fulfilled by direct shipment to the customer from its distribution facilities and stores or via its suppliers' warehouses. JC Penney works in close collaboration with a network of partner companies and organisations across the US.

These partners can be categorised broadly as:. JC Penney has a number of partnerships in place. JC Penney owns and or leases a large portfolio of properties across the US that are key to its ongoing operations. This notably includes its network of 1, retail outlets across 49 states, as well as extensive distribution and storage infrastructure, including distribution centres and warehouses.

JC Penney additionally owns a number brands and trademarks that are key to its ability to provide a unique service to its customers. JC Penney incurs costs in relation to the procurement of products and merchandise, the procurement of professional services, the management of its supply chain, the development of its online retail platform, the maintenance of its IT and communications infrastructure, the implementation of marketing and advertising campaigns, the management of its partnerships, and the retention of its personnel.

JC Penney generates revenue through the sale of various consumer goods items through its network of retail outlets, as well as its online e-commerce platform. The Company principally derives revenue in the form of sales fees. Ellison has been with JC Penney since , serving in several senior leadership positions. Ellison has significant experience as a retail industry executive. Record has held senior executive positions at a number of high-profile companies.

Risch has held a number of senior executive positions, largely in the retail space. She spent ten years at Target Corporation, where he held numerous technology roles of increasing responsibility, including spells as Vice President of Technology Delivery Services from to and Vice President of Business Technology Team from to Not yet a member?

Sign Up. Press ESC to cancel. Ben Davis April 30, What type of business is JCPenney? Is JCPenney a corporation? What is JC Penney known for? Is JCPenney a franchise? What stores are expected to close in ? The next year, it mailed its first JCPenney catalog. In eight states, customers could order from the catalog from inside JCPenney stores; a Milwaukee distribution center supplied the goods.

The company's first full-line stores, with all the new merchandise lines instituted by President Batten, opened in in Audubon, New Jersey, and King of Prussia, Pennsylvania.

They were prototypes for the JCPenney stores of the next two decades. The company needed bigger headquarters because it had grown significantly in 38 years; it built a story office in New York in , where the company stayed until its later move to Dallas.

At the same time, Batten became the company's fourth chairman and beauty salons, portrait studios, food facilities, and auto service centers were added to full-line stores. Able to take advantage of the fact that disposable income in the United States was rising faster than inflation, JCPenney reached its highest number of stores in , with 2, stores, of which were full-line establishments. Donald Seibert was elected fifth chairman of the board and CEO in , the same year a third catalog distribution center was opened in Columbus, Ohio.

The company offered, and sold, three million shares of common stock in , and Sesame Street joined JCPenney's fold by signing an exclusive licensing agreement for children's wear. While the company was riding high on these achievements, the recession that began in took its toll. Investors believed low-margin items such as appliances were squeezing profits, and that discount and self-service home-center stores were doing a better job than JCPenney in the hardware business. The advent and strong growth of the specialty apparel store also meant tough competition for JCPenney.

Like other businesses, JCPenney rebounded and had good growth in , but its executives began to suspect the company needed to be restructured. Walter Neppl became president in Seibert was still chairman , and the company launched its women's fashion program in five markets, designed to help the company compete against specialty stores cropping up in malls. A fourth catalog distribution center, in Lenexa, Kansas, was added in As a fifth distribution center was added in , in Reno, Nevada, the catalog service went nationwide.

To continue expanding the credit policies of the company, JCPenney began accepting Visa in ; MasterCard was accepted the next year. The company closed the Treasury discount stores in because they were unprofitable and decided to focus resources on its JCPenney stores. It also reorganized its executive structure around the office of the chairman. Seibert remained chairman, Neppl moved to the new vice-chairmanship, and William Howell was made an executive vice-president. With these officers in place, the company launched a massive reorganization to transform the company from a mass merchant into a national department store.

It would take almost a decade to achieve the goals outlined in the JCPenney stores positioning statement, issued in The company's first order of business was to expand the fashion programs in men's, women's, and children's departments, and the company divided its stores into two categories, metropolitan based in regional shopping centers and geographic based in smaller communities.

A sixth catalog distribution center was also opened in , in Manchester, Connecticut. Atlanta was only the beginning. Apparel, home furnishings, and leisure lines would be emphasized, and auto service, hard line appliances, paint, hardware, lawn and garden merchandise, and fabrics were phased out.

Its big mass merchant competitors, Montgomery Ward and Sears, continued in these lines. Retail analysts who followed JCPenney called the company's decision difficult but necessary. In addition, low-margin goods were preventing the company from making its profit potential.

In Howell, who most recently held a vice-chairmanship along with David R. Gill, who had started with the company back in , was elected the sixth chairman of the board, and David Miller was named president. The company also introduced a communications system for broadcasting directly to its stores using satellite transmissions from headquarters.

Merchandise buyers from the home office could show store managers, salespeople, and local buyers what merchandise was available, and the local employees could help select what goods would likely sell in their stores.

This gave the company the cost-saving advantages of being centralized, but also allowed it to be sensitive to fashion and seasonal preferences in local markets. Thrift Drug, long dormant since JCPenney purchased it, scored some big points in , when several major industrial companies became mail-order pharmacy customers.

Penney National Bank, to assist in credit and financial services. In JCPenney acquired Units, a chain of stores selling contemporary knitwear and by the next year the company was well on its way to achieving the goals it set forth in JCPenney's president, David Miller, added vice-chairman and COO to his titles, and the company began focusing on four major merchandising groups by dividing them into separate business divisions: women's, men's, children's, and home and leisure.

By the end of , there were 1, JCPenney stores dotting the country, about to undergo a major change. In the company discontinued sales of home electronics, hard sporting goods, and photo equipment in its stores. The space that became available was then used for women's apparel. Also in the late s, JCPenney opened freestanding furniture stores, called Portfolio, on an experimental basis.

The company's five regional operations were narrowed to four in to make communication between merchandising divisions and stores easier. With its new stance as a national department store focusing on apparel, the company had benefited from its prime regional shopping center space, the most such space of all U. Shoppers at regional malls were there to buy clothes and accessories, not washing machines and paint, and JCPenney was poised to take better advantage of these spending habits.

In JCPenney was named the exclusive U. The next year, the full brunt of the recession and the Gulf War hit consumers and JCPenney rather hard. To the relief of shareholders and management alike, JCPenney rebounded in while celebrating its 90th anniversary. Further, James E.

Oesterreicher was named president and Gill retired after 39 years with the company.