In 1913, the Penney Idea was established as the following set of seven guiding principles for the company, (Beaver, 2015).
1. To serve the public, as nearly as we can, to its complete satisfaction.
2. To expect for the service we render a fair remuneration and not all the profit the traffic will bear.
3. To do all in our power to pack the customer's dollar full of value, quality, and satisfaction.
4. To continue to train our associates and ourselves so that the service we give will be more and more intelligently performed.
5. To improve constantly the human factor in our business.
6. To reward men and women in our organization though participation in what the business produces.
7. To test our every policy, method, and act in this wise: Does it square with what is right and just?.
J. C. Penney headquarters relocated to New York City in 1914 to simplify the buying, financing, and transportation of goods. Between the years of 1942 and 1945 more than 5,500 J. C. Penney associates served in the Armed Forces, establishing the company's commitment to the US Armed Forces. Sales surpassed $1 billion for the first time in 1951, fulfilling James Cash Penney's 1927 prediction. The Manhattan warehouse is closed in 1954, symbolically marking the end of the train and telegraph age, and the beginning of the technological age. After positive test store results show customers desire credit, J. C. Penney announced in 1959 that all stores would offer credit by 1963. Also in 1963, J. C. Penney released its first catalog. In 1970 the company made Mary Boulette the first woman store manager. In 1989 J. C. Penney is selected to be the exclusive retailed of USA Olympics apparel in the United States. .
In 1991, in response to sales falling to $16.2 billion due to the stagnant economy during the Gulf War the company streamlines its operations to improve efficiency. J. C. Penney relocated to its current home in Plano, Texas in 1992. The company won the 1995 Catalyst Award honoring its initiative to advance women within the company.
