J.C. Penney, in full James Cash Penney, (born Sept. 16, 1875, Hamilton, Mo., U.S.died Feb. 12, 1971, New York, N.Y.), merchant who established one of the largest chains of department stores in the United States. Give me a man with no goals and I'll give you a stock clerk. This was his parents' way of teaching him the value of money and self-reliance. His store carried men's, women's and children's clothing, shoes, notions, and fabric for sewing. Why do you think both Walker and Penney were successful as business owners? With many observers not believing in the future of the company, the stock in recent months hit an all-time low of under $3 per share, valuing the company at less than one billion dollars. While he recognized that the Golden Rule was a "slogan of good publicity value," his also found it "a poignant link with my father's and my mother's ideals and injunctions." --James Cash Penney. Have students work in groups of four or five to brainstorm ideas for a new business that would be successful in today's society. Her husband died in 1887, when Sarah was 19. As a result, the church dismissed him. As that happened, he renewed his support of various charities, putting millions of dollars into the Penney Retirement Community in Penney Farms, Florida, Christian Herald magazine, and more than 100 other organizations ministering in the United States and around the world. In 1907 he bought out Callahan and Johnson and became sole owner of the Kemmerer store. He continued to serve the company on the board of directors until his death in 1971 at age 95. At nineteen, Jim took a job at the J. M. Hale dry goods store for $25for eleven months workjust $2.27 per month. (Hearty applause.) If we follow the admonition to love God, and our neighbors as ourselves, it will lead us to understand that, first of all, success is a matter of the spirit. "Courteous treatment will make a customer a walking advertisement.". In fact, his first store was called The Golden Rule. Penney, who had passed on an applicant who would not work Sundays, wrote Sams to insure nothing was misunderstood, [Our man] must be a hustler, not afraid to work. Callahan. Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. It didnt work. Perhaps you envy the girl with irresistible beauty, whose skin is flawless and velvety, whose hair has a beautiful silky sheen, the girl who receives glances of undoubted admiration. . 2. Working together is success." Henry Ford. It diversified broadly into drug stores, discount stores, a mail-order catalog, and European retailing. Posted by June 8, 2022 pigtail chest tube procedure note on how did james cash penney achieve his goals June 8, 2022 pigtail chest tube procedure note on how did james cash penney achieve his goals The first year, Penney saw almost $29,000 in sales and a hefty profit, and five years later, he bought out his partners, opened two new stores elsewhere in Wyoming. The activity would be enhanced if you could invite a member of the Chamber of Commerce or a similar organization to visit the class and comment on the practicality of the students' ideas. Therefore, that information is unavailable for most Encyclopedia.com content. J. C. Penney remained extremely active in the affairs of the company, but he and the others at the top were far from autocratic. It was lined with cafes, offices, and other thriving businesses. Why or why not? The cities marked in all capital letters indicate places where Madam Walker established or headquartered her business. Throughout this period of rapid growth, Penney maintained the fundamental system of sharing ownershipor a big share of profitswith those who made his success possible. We have a good future for a man who is capable and not afraid of work.. Let us know if you have suggestions to improve this article (requires login). Don't think that because you have to go down in the wash-tub that you are any less a lady! It is the result of an adopted policy of giving more for the money than can be had elsewhere. Why do you think Madam Walker would have used the portraits shown in Photo 4 in advertisements? The seven principles continue to guide the company today. The boy was one of twelve children, only six of whom survived to adulthood. Walker left one unfulfilled dream. ", Over the next twelve hours, he experienced a kind of conversion. The strength of each member is the team." Phil Jackson. If so, do they think it would be important to preserve the buildings as part of their community's history, like the Walker building in Indianapolis and the Penney buildings in Kemmerer? "Give me a stock clerk with a goal and I'll give you a man who will make history," he once said. 2019Encyclopedia.com | All rights reserved. But when neighbors complained about the squealing noise, his father made him sell the pigs well before they were fattened for market. Above all else, at every stage of life he shared everything he had. He bought his first in the small mining community of Kemmerer, Wyoming, in 1902. Perhaps most importantly, there were several Golden Rule Stores around Colorado owned by various partners (including relatives), and they pooled their purchases on the semi-annual buying trips to Kansas City, St. Louis, and New York. However, the date of retrieval is often important. (February 23, 2023). . Yet the highly motivated Penney, still vigorous and determined, borrowed money and soon regained control of his retail empire. How did Walker benefit the lives of African-American women? By age eight James Penney was forced to earn money to buy his own clothes. He opened his first store, called the Golden Rule, in Kemmerer, Wyoming, in 1902. Why did she later establish her company in Indianapolis? Why or why not? I saw God in his glory and planned to be baptized and to join a church. J.C. Penney was born on a farm outside of Hamilton, Caldwell County, Missouri to James Cash Penney, Sr. and Mary Frances (ne Paxton) Penney. The manager wrote headquarters pleading for them to get the landlord to deny the lease to the competitor. Although he made them work on Sundays, Penney treated his employees well and they were a large part of his success. According to James Cash Penney himself, the company slogan of "Honor, Confidence, Service, and Cooperation," was officially applied to the company philosophy, doctrine, and mission as a daily. "It takes two flints to make a fire." Louisa . 1) two maps of cities associated with Walker and Penney; In the 1920s, the company acquired most of the old Golden Rule Stores, even including Tom Callahans mothers store in Chillicothe, Illinois. In March of 1899, Jim Penney arrived in Evanston, population 2,000, and began as a junior salesman, at a salary of $50 per month. The rest and medical attention did him good, but there was another event that restored him spiritually. Fast forward to 2011. Our editors will review what youve submitted and determine whether to revise the article. What other uses did the building serve at the time Photo 1 was taken? I can do nothing for myself!' Penney launched the first chain of department stores in the United State, commonly known as "Penney's" Today Americans visit over 1,000 J.C Penney or persue the mail order and online categalogs to purchase various household goods and clothing. The Golden Rule. Offers information on this organization, which was founded by Booker T. Washington in 1900 "to promote the commercial and financial development of the Negro" and to bring African Americans into the middle-class mainstream. Penney decided to return to the dry goods business, taking temporary employment as a clerk in Callahan and Johnson's store in Longmont. It is open seven days a week from Memorial Day through Labor Day. But this was just the beginning. Business was brisk on opening day, and Penney brought in an impressive $466.59. The company gradually entered larger cities. Penney himself became known as the "Man with a Thousand Partners.". Includes a speech delivered to the second annual convention of the National Chain Store Association (1929) by Earl C. Sams, president of the J.C. Penney Company. In 1913, her daughter, who would later change her name to A'Lelia, persuaded Madam Walker to buy a house in Harlem as the New York base of the business. But life was not easy on J. C. Penneyin 1910, his beloved Berta contracted pneumonia and died suddenly, leaving him with two small boys, a broken man. Bonhoeffer Transferred to Buchenwald Concentration Camp. J.C. Penney, in full J.C. Penney Corporation, Inc., formerly J.C. Penney Stores Company (1913-24) and J.C. Penney Co. (1924-68), American retail company, founded in 1902 by James Cash Penney and today engaged in marketing apparel, home furnishings, jewelry, cosmetics, and cookware. "Penney, James Cash Those interested in learning more will find that the Internet offers a variety of materials. By looking at Two American Entrepreneurs, students can learn the stories behind the success of two of America's most famous early 20thcentury businesspeople. At the age of twenty-nine, J. C. Penney was well on to his way to becoming a wealthy man. He suggested Jim move west where the air was clearer and drier. Penney and his partners dreamed of a thousand stores (achieved in 1928). "At that time something happened to me which I cannot explain," he said later. Jims big chance was a store 25-feet wide and 45-feet deep. Former slaves, the Breedloves worked as sharecroppers on a cotton plantation and lived in a one-room cabin. When he was twenty-one, the family doctor noted that Jim was wearing down and risked getting the dreaded consumption (tuberculosis). The young couple lived above the store, using shoe boxes for chairs and packing cases for tables. The house is open for tours by appointment at other times. He decided that his success potential could only come true if he delegated responsibility to others and if he put his faith in the people he hired. Penney opened the Kemmerer store on April 14, 1902. Even in 1927, when the company ceased operating as a partnership and sold its stock publicly, managers were given stock in the company, and eventually all employees were included in profit-sharing plans. 3. He finally felt secure enough to ask his longtime girlfriend, Berta Hess, to marry him. Though his faith was individualistic, Penney had a strong commitment to Christian principles, and he tried to incorporate these principles in his business. Fax: (513) 860-8251 23 Feb. 2023 . 7. But Earl Sams not only earned Jims confidence, but later went on to follow Penney as president of the company and head of day-to-day operations for almost thirty years. Penney's childhood and early adult life appeared quite ordinary. Incorporated: 1905 as Socit, Fred Meyer, Inc. Stories in old newspapers will probably describe when the business was opened and what changes have been made over the years. For a while, Jim did this, then he realized his father would have never put up with the bribery. Thrift Drug celebrated its 50th anniversary in 1985; JCPenney's total year-end sales hit $13.6 billion. Why would it have been important to the company to rent office space in the building to African Americans? Then two significant things happened to J. C. Penney. Curry, Mary E. Creating an American Institution: The Merchandising Genius of J.C. Penney. The best thing for him was to move to a drier climate. HCSC became the key letters: Honor, Confidence, Service, and Cooperation. In the early 21st century the company operated more than 800 stores in the United States and Puerto Rico. A thousand miles to the west, in the small town of Kemmerer in western Wyoming, stands a small building that represents the early days of another successful career. Pick a style below, and copy the text for your bibliography. He cut off the whiskey, lost the customer, and the butcher shop failed, Jim losing all his savings in the process. In one location, the Golden Rule landlord was about to lease the space next door to one of these new competitors. First days sales were a gratifying $466.59. In turn, the new manager would train others until they started up their own stores as one-third partners. To expect for the service we render a fair remuneration and not all the profit the traffic will bear. After intensive training in hair and beauty culture, graduates of the school were ready to give scalp treatments, restyle hair, and give manicures and massages. The Walker Building is located at the intersection of West Street and Indiana Avenue in downtown Indianapolis. Report of the Fourteenth Annual Convention of the National Negro Business League, Philadelphia, PA, August 20-22, 1913, William H. Davis, Official Stenographer, Washington, D.C., 210-212. In 1920, they had a son. In the fall of 1901, the two partners told Jim they wanted to open a new store in huge Ogden, Utah (population 20,000). We are here to stay; we like the countryits people; we believe in selling you good dependable goods on a Small Margin of Profit Only. Following is a copy of "The Penney Idea," a declaration of ethics and purpose adopted by the J.C. Penney Company in 1913. James Cash Penney. He lost control of Foremost Dairies, but retained some stock (that company went on to become the third largest dairy corporation in the world in the 1950s). Document 1 was provided courtesy of the Indiana Historical Society, Walker Collection. . Portland, Oregon 97202 Whenever in a store, he waited on customers. All rights reserved. - James Cash Penney. The following activities will help students understand how hard work, ambition, confidence, a willingness to take risks, knowledge of potential markets, as well as lots of luck, contribute to success in establishing and operating a business. Working in the Callahan store, Penney began to dream of operating his own chain of stores, based on the idea of having partner-owners who would share in all the profits. Little Rock, Arkansas 72201 Activity 4: Researching a Local Business Christianity.com is a member of the Salem Web Network of sites including: Copyright 2023, Christianity.com. He brought in good men willing to work from all over the United States, and funded everything. We open at seven, and never get closed till nine or ten oclock, work half day Sunday. ISN'T RIGHT NOW a time when you simply cannot afford to miss a chance to SAVE. April 14, 1902: James Cash Penney, along with two partners, opens the 25 . Therefore, its best to use Encyclopedia.com citations as a starting point before checking the style against your school or publications requirements and the most-recent information available at these sites: http://www.chicagomanualofstyle.org/tools_citationguide.html. Our growth has not been chance. When the senior clerk came back to work, Tom Callahan kept Jim on. In a 25-by-140 foot section of the first floor, Penney developed and refined the merchandising ideas that led to the growth of his successful chain of stores. 35 cents per long-lasting box. He had decided to abandon the name "Golden Rule," which had been adopted by some of his less scrupulous competitors. James Cash Penney, Jr., was born September 16, 1875, near Hamilton, Missouri, to the Reverend James C. Penney and his wife, Fanny. began as a store clerk after graduating high school. 1100 North Market Street A WORD ABOUT PRICES: Our reputation for good value giving is known throughout the West where are located 12 of our stores, each being a phenomenal business. You will get BIG VALUES for your money at this store. This would be a major asset for a mail-order business. Please refer to the appropriate style manual or other sources if you have any questions. From then on, Sarah began calling herself Madam (sometimes spelled Madame) C. J. Walker, a name she thought gave her products more appeal. . Later, the entrepreneurial young man sold watermelons outside the gates of the local fair. "Penney, James Cash Madam Walker's business was carried on by her daughter and is still in operation, although no one in the Walker family is currently associated with the firm. 40, boulevard Haussmann Why did Walker move to Denver? Encyclopedia.com. At the Fourteenth Annual Convention, Madam Walker was on the schedule, explaining to the audience how she had succeeded in the business world: In the first place I found, by experience, that it pays to be honest and straightforward in all your dealings. Why did Penney choose to open a store in Kemmerer, Wyoming? After clerking in one store, he helped a partner start a new store, and eventually, he bought a Golden Rule store of his own in Kemmerer, Wyoming, in 1902. Many factories knowing the immense outlet we have are anxious for our business. Does the artist's conception of the first store seem idealized? Don't sit down and wait for the opportunities to come. Provides links to advertismements for the Madam C.J. 2. I tried it on my friends; it helped them. With a child, it was too small, and Penney bought this two-storey house in 1904. Madam Walker was so impressed during a visit to Indianapolis in 1910 that she decided to make it her national headquarters. They offered him a one-third partnership in the new store if he would run it, and further said theyd loan him the money. At the age of eight, Penney's father told him he would be responsible for clothing himself, and soon he was earning more than enough for his sartorial needs selling junk, growing watermelons and raising pigs. Frequent national and regional conventions of managers were held, with Penney and other leaders speaking at every opportunity. But again, fate befell him: she died suddenly in 1923. The Great Leaders Series: James Cash Penney, Founder of J.C. Penney. Have students discuss the careers of Madam C. J. Walker and J. C. Penney, using the following questions as a guide: Do you think they were effective? The couple attended church, and had their first child, a boy, in 1901. "Profits must come through public confidence, and public confidence is given to . He lived and served until he was 95, frequently sharing a Bible verse he had memorized as a child and claimed as his favorite: "I have trusted in the Lord without wavering. She recruited and trained a national sales force that included schoolteachers, housewives, cooks, and washerwomen. 4. He dusted the floor between customersup to ten or eleven times a day. 6. Guided by the love of his new wife and the Golden Rule principle, the inspired young businessman began a journey that would take him to undreamed of success. (Indiana Division of Historic Preservation and Archaeology). They can use city or county business directories to see how long the business has operated and at what addresses. After opening his first store for business in 1902 in Kemmerer, Wyo., J.C. Penney tallied first day's sales of $33.41. Glimpses generally focus on historical figures who have changed the church or affected the world in some overtly Christian way. The business incorporated in 1913 as J. C. Penney and Company, Inc. (unscrupulous competitors had begun to use the Golden Rule name), adopting seven business principles of fair pricing and good service. Fortunemagazine ran full stories on the company in the September 1950, July 1967, and March 1, 2016 issues. 1. Who did Penney expect to read this ad? He died on February 12, 1971, at the age of 95, as the founder of the nation's second-largest department store behind Sears. Business is therefore as much religious as it is secular." Walker and James Cash Penney. It has been a monument to one of the great merchants of American history, and may continue to be so. Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. Because of this profit-sharing arrangement with his store managers, J.C. Penney was called "the Man with a Thousand Partners," a phrase Penney used in his autobiography. If a business can be built on the principles of the Golden Rule, and I firmly believe it can, we shall go forward and some day we shall add to this one unit another store and another store, and some day we might have as many as ten stores. Lathers well in hardest water, removes grease and dirt, yet will not harm a lady's skin. But he also found and developed new, younger partners, always loaning them enough to own one-third of their own stores if needed in order to make sure they had an investment in their stores and shared in any success achieved. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. There were more than 30 within that first decade. Under pressure from major Wall Street investor William Ackman, the company appointed former Target executive and Apple Store leader Ron Johnson as CEO. She had survived a failed marriage, but Jim married the divorcee he loved even knowing others might not approve. Even the Great Depression did little to halt the Penney expansion program. 1. 3. We will have no expensive fixtures for which we would have to go in debt; we will pay cash for all our merchandise so we can take advantage of all discounts and not have to pay interest. Raised by a Baptist minister, Penney had a greater interest in the spirit than in the letter of religion. But Sams decided to go with Jim Penney. Penney.". On the same property, he opened retirement apartments made available to retired preachers and missionaries free of charge. (Prolonged applause). Because St. Louis already had several cosmetic companies, Walker decided to move to another city to set up her own business. .) By 1941, J. C. Penney operated 1,600 stores in all of the lower 48 states. Water was drawn from a nearby well and hauled up to their rooms by bucket and rope. How did he assure the customer that there were no "cheap goods" at Penney stores? The companys message to all associates, whether managers or clerks, was the importance of serving the public, of keeping prices low, of living by the Golden Rule. James Cash Penney (18751971) was born on his father's farm in Hamilton, Missouri, the seventh of 12 children. "Effectively, change is almost impossible without industry-wide collaboration, cooperation, and consensus." Simon Mainwaring. He spent long hours again doing whatever it took. He was endlessly curious and an outstanding salesman. Fifty Years With The Golden Rule. When the business celebrated its 90th anniversary in Kemmerer in 1992, 21 years after Penney's death, it had become a firm surpassing $15 billion in sales, and employing approximately 190,000 associates with more than l,300 stores scattered throughout the U. S. and Puerto Rico. Life was tough, his father said, and success only came through hard work and long hours. The lesson was edited by the Teaching with Historic Places staff. Yet still, he borrowed what he could to continue funding causes he believed in. Try these products and you won't have reason to envy another girl her lovely hair and her charming complexion. Above and beyond his shrewd business sense, James Cash Penney had an enduring desire for fairness in his business dealings. In that light, some might question our decision to spotlight J. C. Penney. He readily accepted. Gather up a collection of fairly recent magazines and newspapers (the students can help) and have students work in groups with at least 10 different kinds of ads. In 1874, Sarah was left an orphan, and she moved in with her sister Louvenia. Article Images Copyright 2023 Getty Images unless otherwise indicated. . Kemmerer profits rose to $9,800 and then $11,250 in the next two years. Soon enough, Callahan asked Jim to move to Evanston, Wyoming, where Callahan and partner William Johnson operated another Golden Rule Store. His $3 million life insurance policy was reportedly smaller than only those ofmovie mogul Adolph Zukor,retail kingpin Rodman Wanamaker, andchemical and auto leader Pierre Du Pont. This served as a wake-up call, and Penney consequently turned his attention away from side projects and back to running the company down to the microscopic details. Sams was offered a store managers job at a competitor, compared to the sales clerk job that Penney offered him. The words "only believe" came to him. 3) two advertisements for Madam Walker beauty preparations and Penney's Golden Rule Store; There are reasons for everything. When Madam Walker and her associates started to develop her beauty preparations, which are now used all over the world, they perfected their toiletries step by step. One morning he awoke too early for breakfast and was wandering the corridors when he heard a hymn he remembered from childhood. Questions for Document 1 Main Street Merchant: The Story of the J.C. Penney Company. Part of the building contained the Indianapolis branch of Lelia College as well as the Madam Walker Beauty Parlor. Although the Walker Manufacturing Company is no longer located there, the building continues to house various commercial businesses, including a beauty salon. . Later that year she built her dream house, a mansion in Irvington-on-Hudson, a wealthy community north of New York City. Create new beauty for yourself by using Madam C. J. Walker's famous beauty preparations. U.S.A. 5) To investigate whether businesses in their community were established by entrepreneurs with characteristics like those of Walker and Penney. The address is 6l7 Indiana Avenue, Indianapolis, Indiana 46202. This man was not a religious leader--he didn't even join a church until he was in his 70s--but he was a business leader. How would you describe this building? While every effort has been made to follow citation style rules, there may be some discrepancies. He had been striving all his life to honor God with his business, but now it was time to rest in the Lord's grace. Detroit: The Gale Group, 1998, s.v. (A'Lelia Bundles/Walker Family Collection). He based his business on the principle, "Do unto others as you would have them do unto you." Questions for Document 2 This lesson is part of the National Park Services Teaching with Historic Places (TwHP) program. Cooperation proves the quality of leadership.". If so, how? What business principles does Penney suggest will benefit his customers? He cut back on financing theChristian Herald. Encyclopedia of World Biography. For more information, contact Kemmerer's J.C. Penney Store at 722 J.C. Penney Drive, Kemmerer, Wyoming 83101. Study the advertisement and then refer to the partial transcript to answer the following questions. C.J. Penney remained chairman of the board until 1946, and after that, as honorary chairman until his death in 1971. There he competed for customers with 21 saloons. It was no longer about his own efforts, but God's. U.S.A. Although his first year's salary was only $25, by 1897, he was making $300 a year, and his future appeared bright. "Suddenly needing to be heard, I cried inwardly, 'Lord, will you take care of me? You need not envy her. Superfine Face Powder (Brown)--Clinging, velvety smooth, invisible and adorably perfumed. Document 2 was provided courtesy of the J.C. Penney Archives, Dallas, TX.