JCPenny is the prime example of a traditional merchant based on physical stores and a catalog operation moving successfully to a multi-channel online store. In 2011, JCPenny.com ranked 20th on Internet Retailer's list of the top 500 retail Web sites ranked by annual sales.
James Cash Penny opened the first Golden Rule store in 1902, and incorporated his growing business as the J.C.Penny Company in 1913. Penny's original vision was to create a nationwide chain of stores based on the newly emerging business model called a "department store:", which aggregated a wide variety of general merchandise at a