Acct 504 Course Project Essay Example
James Cash Penney opened his first store located in Kemmerer Wyoming in 1902, at the age of 25. The first store was opened in partnership between Penney, T.M Callahan and Guy Johnson as a ‘cash only’ store, refusing to take mining script or extend credit. Investing his entire savings of $500, Penney had to borrow $1,500 and was cautioned against his ‘cash only’ policy, as other stores in mining towns had been failing. The store was a success in spite of bankers warnings earning $28,898 in sales. Within two years Penney bought out Callahan and Johnson, and Penney had taken over their three other stores. Expanding rapidly, by 1915 there were 83 stores and by 1917 there were 175. Currently there are over 1,200 with over 205,000 employees stores ranging from the all 50 states as well as Puerto Rico, Mexico and Chile, the company is currently headquartered in Plano Texas.
J.C. Penney sells; clothing and shoes for men, women and children; kitchen goods and household appliances; bathroom and bedroom linens; jewlery and other accessories, they are known widely for their catalog services; and in 2010 they introduced the Sephora, a cosmetic company carrying many major brand names inside their stores.
Kohl’s management purchased 40 stores in Wisconsin and Indiana from the founding company of BATUS (British-American Tobacco Co.) in 1986 and became known as ‘one of the largest discount department store chains in the United States’ (Kohl’s Corporation History). Spending three years developing their Kohl’s concept of moderately priced apparel for middle-income families, Kohl’s began expanding from the mid-west in 1988.
With over 33,000 employees Kohl’s is based out of Menomonee Falls, Wisconsin and operates 1,146 stores nationwide. Kohl’s sells jewelry, clothing accessories, cosmetics, shoes, small kitchen appliances and cookware, bedroom and bathroom linens, as well as clothing for men, women, and children. These items include nationally recognized names,
J.C. Penney sells; clothing and shoes for men, women and children; kitchen goods and household appliances; bathroom and bedroom linens; jewlery and other accessories, they are known widely for their catalog services; and in 2010 they introduced the Sephora, a cosmetic company carrying many major brand names inside their stores.
Kohl’s management purchased 40 stores in Wisconsin and Indiana from the founding company of BATUS (British-American Tobacco Co.) in 1986 and became known as ‘one of the largest discount department store chains in the United States’ (Kohl’s Corporation History). Spending three years developing their Kohl’s concept of moderately priced apparel for middle-income families, Kohl’s began expanding from the mid-west in 1988.
With over 33,000 employees Kohl’s is based out of Menomonee Falls, Wisconsin and operates 1,146 stores nationwide. Kohl’s sells jewelry, clothing accessories, cosmetics, shoes, small kitchen appliances and cookware, bedroom and bathroom linens, as well as clothing for men, women, and children. These items include nationally recognized names,