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J.C. Penney was founded by James Penney in 1902 in the mining town of Wyoming, and is currently headquartered in Plano, Texas. At the beginning of the store, James Penney, according to the situation of the town, the residents' hobbies and needs, bought high-quality goods and marked the price on each product. The price was the same for all levels of people, which was not common at that time. JCPenney was founded in 1902. So far, it has 1200 large clothing stores in the United States. In 1998, its turnover reached 38 billion US dollars (equivalent to 320 billion yuan, more than 290 billion yuan of total clothing sales in China in 1998). In order to reduce transaction costs, the company considers expanding the proportion of direct purchase, especially looking for production bases in China. Brand story J.C. Penney's store only pays cash and does not accept credit consumption. This practice has been ridiculed by local businessmen, because most of the local residents use credit consumption, but J.C. Penney attracts customers with its high-quality goods and good services. J.C. Penney insisted on providing customers with high quality and low price goods. Soon, J.C. Penney succeeded. The 1920s were a glorious time for J.C. Penney. From 1920 to 1930, J.C. Penney opened 1250 stores every three days on average. Most of these shops are on the streets of small towns in the United States. Although the Great Depression of the 1930s shrank American business, it gave J.C. Penney a new opportunity: because of lack of funds, many shoppers valued J.C. Penney's high-quality and cheap goods. By the end of the 1930s, J.C. Penney had 1586 stores, with total sales of more than $300 million. After World War II, J.C. Penney readjusted its stores to adapt to the changing suburban development, adding a large number of goods. In 1949, J.C. Penney opened a shopping center in St. Louis, which is far away from the street and can be driven in. It became the predecessor of modern American shopping centers. In 1951, J.C. Penney's total sales exceeded $1 billion. J.C. Penney has laid a solid foundation in the apparel and home furnishing retail industry in the United States. By the mid-1950s, the new J.C. Penney store was mostly a suburban shopping mall. After 1957, under the management of William Barton, then chairman of the board, J.C. Penney focused on developing a wide range of department stores to meet the needs of the suburban market. In 1958, J.C. Penney introduced credit consumption. In addition, J.C. Penney has built beauty salons, restaurants and car garden centers to make shopping convenient for shoppers. In 1963, J.C. Penney released the catalog. In 1967, J.C. Penney financial services was founded. In 1967, J.C. Penney also bought the company. In 1995, 1996 and 1997, Penney acquired three pharmaceutical companies successively. In the 1970s, large-scale shopping supermarkets began to prevail in the United States. J.C. Penney, with its good reputation, a wide range of high-quality goods and after-sales service, has established its position in the United States. J.C. Penney's small stores were quickly replaced by its large department stores, and sales jumped from $4 billion to $11 billion. In the 1980s, the structure of J.C. Penney changed dramatically. Based on the results of customer surveys in the late 1970s, J.C. Penney focused on high-grade clothing and soft and comfortable home furnishings. In 1983, J.C. Penney announced that it would spend $1 billion to renovate its stores. In 1988, J.C. Penney moved its headquarters from New York City to Dallas, Texas. In the early 1990s, J.C. Penney completed the transformation from a chain store to a national department store in the United States. Women's clothing accounts for 80% of J.C. Penney's clothing business.

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