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Opening
In Kemmerer, Wyoming and was founded by James Cash Penney. -
Moving
Penney moved his headquarters from Missouri to Salt Lake City, Utah to be closer to the banks and railroads. -
Moving pt. 2
The headquarters again moved this time to New York City to simplify financing and transporting goods. -
Profits on the rise
With the opening of the 1,000th store the gross profit was roughly $190,000,000 (which would be roughly $2.71 billion today). -
Ads
JC Penney began their advertisement in Life Magazine. -
Location
They began to relocate from downtown areas to shopping malls where they are mostly today. -
Expanding
The company finished their "national expansion' with the opening of their store in Honolulu, Hawaii (the stores in Hawaii were closed in 2003). -
Online
The company began to sell products online and gained their own website. -
Stores closing
44 under preforming stores were closed. -
Lay offs
1,600 workers were laid off due to decreasing success.