J. C. Penny, also known as JCP, is an American department chain with over 689 locations throughout the 49 states and Puerto Rico. The company stands for James Cash Penny. JCP was the original owner and opened the first location of J.C Penny’s in 1902. J.C Penny will turn 119 years old this year. J.C Penny is a Limited Liability Corporation. It offers a wide variability of items. Some of their items include a huge variety of clothes, home furnishing, jewelry, cosmetics, and cookware. Their main competitors include Kohls’s, Target, Ross, Burlington Stores, and Walmart. The company’s main mission is to help customers find what he/she wants in less time, money, and energy. J.CPenny wants to bring the simplification of shopping. Giving the customer fewer options lets the people stress less with all the options. J. C. Penny is also a multi-plant firm and an oligopoly. Due to the pandemic, the company was forced to file bankruptcy.
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