JCPenney | University of Illinois Archives

Name: JCPenney

Historical Note: JCPenny is an American department store brand that was founded in 1902 as a dry goods store by James C. Penney. The company expanded to a chain of department stores in 1961, focussing on the growing interest in shopping malls. After Penney died in 1971, the companies profits began to increase dramatically. In 1973, they had opened over 2,000 stores. By 1975, they were funding additional ventures including a bicentennial score project in 1976. By the 1990s, the company had expanded to international locations, including Chile, Mexico, and Puerto Rico. By the early 2000s, JCPenney's profits began to wane, and they closed several locations in the Midwest. While profits returned briefly, with the 2010s expansion of online stores like Amazon, JCPenney began closing additional locations. In 2020, the company filed for bankrupcy and since then has been owned by Simon and Brookfield.

Note Author: Nolan Vallier