James Cash Penney

Profession: Department Store Founder

Nationality:

Biography: James Cash Penney was an American businessman and entrepreneur known for founding the JCPenney department store chain in 1902.

Penney initially worked in a store himself, and then bought a partnership in a new store that his employers were opening. When they dissolved their partnership, he took over the total of three stores thus far.

From there, Penney's interests quickly expanded with a total of 34 stores by 1912. The chain continued to expand nationwide and reached a total of 120 stores in 1920, by 1929 it would reached 1,400 stores.

While the stock market crash of 1929 and ensuing Great Depression almost ruined Penney personally, the company survived. Penney subsequently let go of the reins and allowed others to taking over daily operating management.

Born: September 16, 1875
Birthplace: Hamilton, Missouri, USA
Star Sign: Virgo

Died: February 12, 1971 (aged 95)
Cause of Death: Heart attack