J. C. Penney Corporation, Inc. Case Study

Founded in 1902 by James Cash Penney, J. C. Penney Corporation, Inc. (JCP) is a chain of mid-range department stores based in Plano Texas. JCP currently has 1,060 department stores in 49 U.S. States in operation. JCP stores sell conventional merchandise as well as leased departments. Some examples of leased departments are Sephora, optical centers, portrait studios, and jewelry repair. Before 1966, most of its stores were located in downtown areas. As shopping malls became more popular in the latter half of the 20th century, J. C. Penney began relocating and developing stores in malls as other companies had done. In more recent years, the company began opening some standalone stores. The company has been an Internet retailer since 1998. It
Myron E. Ullman, III is the Chief Executive Officer for JCP. He joined the company in April 2013. From 1998 to 1999, he was President of LVMH (Moët Hennessy Louis Vuitton) Selective Retail Group. He also spent time as Chairman of the Board and Chief Executive Officer of DFS Group Ltd. and Chairman of the Board and CEO of R. H. Macy & Company, Inc. (J. C. Penney Company, Inc., 2013).

Mr. Kenneth H. Hannah is the Executive Vice President and Chief Financial Officer of J. C. Penney. He has been with JCP since May 2012. Before joining the company, Hannah was Executive Vice President and President-Solar Energy of MEMC Electronic Materials, Inc. and had previously served as Executive Vice President and President-Solar Materials and Senior Vice President and Chief Financial Officer (J. C. Penney Company, Inc., 2013).

In 2009, Ms. Janet Dhillon became Executive Vice President, General Counsel and Secretary of JCP. Prior to joining the company, she served as Senior Vice President and General Counsel and Chief Compliance Officer of US Airways Group, Inc. and US Airways, Inc. Dhillon was with the law firm of Skadden, Arps, Slate, Meagher & Flom LLP from 1991 to 2004 (J. C. Penney Company, Inc.,
Today, as we invest in the future of our business, we are committed to building on our proud legacy of responsible corporate citizenship by advancing social, environmental and ethical standards across our operations. At J. C. Penney Co., we are working to integrate sustainability into everything we do, from our global supply chain to the environmental impact of our stores. J. C. Penney Co. has a clear focus on operational efficiency, utilizing programs to manage energy consumption, reduce waste and encourage recycling across all approximately 1,100 stores and 14 logistics facilities. Through the Company's energy conservation efforts, J. C. Penney Co. has received ENERGY STAR certification in over 500 locations and earned the ENERGY STAR Sustained Excellence Award for five consecutive years" (J. C. Penney Company, Inc.,