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J.C. Penney's journey from 1 store to 1,100
Saturday - 11/17/2012, 11:05am EST
NEW YORK (AP) - A look at J.C. Penney's milestones:
_1902: James Cash Penney, son of a Baptist preacher and farmer, opens The Golden Rule, a dry goods and clothing store in Kemmerer, Wyoming. The name was based on his guiding principle of building a business through serving the community with fair dealing and honest value.
_1913: Incorporated in Utah as the J.C. Penney Co. Inc. and the Golden Rule name was phased out.
_1914: Headquarters moves from Salt Lake City, Utah, to New York City.
_1929: Begins selling shares as a publicly traded company.
_1951: Store sales exceed $1 billion for the first time.
_1963: Issues its first catalog.
_1971: James Cash Penney dies at age 95.
_1972: Launches first national television.
_1979: Catalog sales pass $1 billion for the first time.
_1992: Headquarters moves to Plano, Tex.
_1994: Launches jcpenney.com, its online store.
_2005: Penney's e-commerce business surpasses $1 billion in sales.
_2009: Opens its first store in Manhattan.
_2010: Becomes the exclusive retailer of Liz Claiborne and Claiborne in the U.S. and Puerto Rico. Exits catalog business. Introduces mobile coupons.
_2011: Ron Johnson, a former Apple executive, becomes CEO.
_2012: Implements a new pricing strategy that eliminates hundreds of coupons and sales in favor of everyday lower prices. Begins rolling out new shops in stores to turn the stores into mini-malls of sorts.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)