biography
| name: |
Penney, J(ames) C(ash)
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| sex:
| male
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| lived:
| (1875–1971)
|
| biography:
| Retailer and philanthropist, born in Hamilton, Missouri, USA. He worked in a local dry goods store in Colorado, then moved to Wyoming, where he opened his own store in 1904 and by 1911 owned a chain of 22 stores. He went public in 1927, giving all managers shares of stock, and including all employees in profit-sharing. By 1971, J C Penney's had 1660 stores and had become the second largest non-food retailer in the USA. A devout Christian - he published 50 Years with the Golden Rule (1950) - he gave generously to his favourite charities and maintained an active role in his company until his death. |
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