J.C. Penney is not the department store mogul they used to be. As a bonafide shopaholic and a mother who shops for school clothes to outfit six children each August, I can’t say that I have bought a single thing from the retailer in the past decade. It looks as though I’m not the only one.
Godfather Politics presented quite an interesting history of the company that many folks don’t know:
On April 14, 1902, three businessmen partnered and opened a retail store called The Golden Rule. In the next few years, they opened two more stores in the area, but in 1907, two of the partners, Thomas Callahan and Guy Johnson dissolved their partnership. The remaining partner, James Cash Penney managed to purchase full interest in all three stores and took control from there. In 1909, he moved his headquarters to Salt Lake City, Utah and by 1912 he had a grand total of 34 stores located throughout the Rocky Mountain states. In 1913, James Cash Penney placed all of his stores under the name of J.C. Penney and the rest is history.
The Great Depression hit Penney hard and he nearly lost everything he had. In an effort to salvage his retail company, he borrowed on his life insurance policies in order to meet payroll. The stress of the Great Depression and the financial burden it placed on Penney took its toll on his health and he ended up admitting himself into Battle Creek Sanitarium for treatment.
While at the sanitarium, it is reported that Penney heard the hymn God Will Take Care of You being sung in the sanitarium chapel. He was so moved by the hymn that he gave his life to Christ and became a born-again Christian.
Penney, who died in 1971 at the age of 95, must be rolling over in his grave. The company he fought tooth and nail for recently adopted famous lesbian Ellen DeGeneres as it’s spokesperson. In addition, just prior to Father’s Day, J.C. Penney launched an ad campaign promoting gay fathers.
The company’s apparent attempt to identify with progressive consumers has backfired in a massive way. Stock in J.C. Penny is now worth less than half of what is was previously valued at. To add insult to injury, Standard & Poor’s Rating Service has lowered the company’s credit ranking significantly.
Perhaps if J.C. Penney stuck to their Christian roots, instead of abandoning them for the sake of political correctness, they’d be in better shape today. Do you agree? Tell us in the comments section!
(Read More: Hobby Lobby President Heading to DC to Do THIS…)