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In 1962, J. C. Penney entered discount merchandising with the acquisition of General Merchandise Company which gave them The Treasury stores. These discount operations proved unsuccessful and were shuttered in 1981. In 1963, J. C. Penney issued its first catalog. The company operated in-store catalog desks in eight states.
Early life. J. C. Penney was born on September 16, 1875, on a farm outside of Hamilton, Missouri.He was the seventh of twelve children, only six of whom lived to adulthood, born to James Cash Penney and Mary Frances (born Paxton) Penney.
In 1961, J.C. Penney was looking to break into the catalog business, and after failing to reach an agreement with Aldens in October, looked to acquire General Merchandise, who at the time was the country's fifth-largest catalog merchant. A merger proposal was agreed upon in December 1961, with GMC’s acquisition approved in February 1962.
Scott Olson/Getty Images Never underestimate the power of ancient technology. In a move that seems to run counter to the digital age we live in, J.C. Penney (JCP) is bringing back its paper ...
Neal Hamberg/Bloomberg via Getty ImagesIn this 2004 photo, a customer looks through "The Big Book" catalog at a JCPenney store. By Rama Venkat Raman Department-store operator J.C. Penney (JCP) is ...
Penney. James Cash Penney started his first retail store in 1902 in Kemmerer, Wyoming. By 1925, J.C. Penney had 674 stores generating sales of $91 million. In 1962 J.C. Penney bought Wisconsin based General Merchandise Company with discount stores and a mail-order operation. Thus J.C. Penney entered the mail order catalogue business.
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