JAMES CASH PENNEY



JAMES CASH PENNEY
Personal highlights
1875: Born in Hamilton, Mo.
1902: Opened his first store selling dry goods in Kemmerer, Wyo. The son of a Baptist preacher who said he wanted to run his business on Christian principles, he named the store The Golden Rule.
1907: As more stores opened, he initiated a profit-sharing plan, which he later credited for the chain's success.
1913: Changed the chain's name to J.C. Penney Co. and moved corporate headquarters to New York.
1929: Lost $40 million in the stock market crash of 1929 and was nearly broke. A few years later, he was a millionaire again after borrowing money against an insurance policy.
1958: Retired as chairman of the board.
1971: Died at age 95.
J.C. PENNEY
Local stores
The history of J.C. Penney stores in the area:
1936: Store opens on Federal Street in downtown Youngstown.
1954: Store opens at the Mahoning Plaza in Youngstown.
1956: Store opens in the Boardman Plaza.
1957: Downtown Youngstown store is remodeled.
1958: Store opens in Liberty Plaza.
1963: Downtown Youngstown store is closed.
1964: Boardman Plaza store is expanded.
1969: Store opens in Shenango Valley Mall in Hermitage. That store remains today, but stores in New Castle and Ellwood City have closed.
1970: Store opens in Southern Park Mall in Boardman, but store in Boardman Plaza is closed.
1980: Company returns to Trumbull County with a store in Eastwood Mall. Earlier store in downtown Warren had closed.
1986: Liberty Plaza store closes.
1987: Grove City, Pa., store closes.
1988: Store opens in Austintown Plaza, and store in Mahoning Plaza is closed.
1996: Store in Salem is closed.

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