Penney, J(ames) C(ash) (1875–1971)

US retailer and philanthropist. He opened his first store in 1904; in 1907 he bought the two stores of his partners; by 1911 he owned a chain of 22 stores. He went public in 1927, giving shares of stock to all managers and including all employees in profit-sharing. By 1971, J C Penney had 1,660 stores and $4 billion in sales, making it the second-largest nonfood retailer in the USA.

He was born in Hamilton, Missouri. In 1897 he moved to Colorado for health reasons. There he worked in a local dry goods store, moving to Wyoming when his partners opened a branch in Kemmerer, Wyoming (1902). Two years later he opened the store that triggered his empire. A devout Christian – he published 50 Years with the Golden Rule (1950) – he gave generously to his favourite charities and maintained an active role in his company until his death.