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NEW YORK (AP) - A look at J.C. Penney's milestones:

_1902: James Cash Penney, son of a Baptist preacher and farmer, opens The Golden Rule, a dry goods and clothing store in Kemmerer, Wyoming. The name was based on his guiding principle of building a business through serving the community with fair dealing and honest value.

_1913: Incorporated in Utah as the J.C. Penney Co. Inc. and the Golden Rule name was phased out.

_1914: Headquarters moves from Salt Lake City, Utah, to New York City.

_1929: Begins selling shares as a publicly traded company.

_1951: Store sales exceed $1 billion for the first time.

_1963: Issues its first catalog.

_1971: James Cash Penney dies at age 95.

_1972: Launches first national television.

_1979: Catalog sales pass $1 billion for the first time.

_1992: Headquarters moves to Plano, Tex.

_1994: Launches jcpenney.com, its online store.

_2005: Penney's e-commerce business surpasses $1 billion in sales.

_2009: Opens its first store in Manhattan.

_2010: Becomes the exclusive retailer of Liz Claiborne and Claiborne in the U.S. and Puerto Rico. Exits catalog business. Introduces mobile coupons.

_2011: Ron Johnson, a former Apple executive, becomes CEO.

_2012: Implements a new pricing strategy that eliminates hundreds of coupons and sales in favor of everyday lower prices. Begins rolling out new shops in stores to turn the stores into mini-malls of sorts.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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