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JCPenney was founded in Kemmerer, Wyoming, in 1902 by James Cash Penney. The first store, named The Golden Rule, set the standard by which we have operated for over a century â to treat others as we would like to be treated.
JCPenney History. JCPenney, also called JCP or Penneys, was founded by James Cash Penney in 1902 as the Golden Rule Store. Penney bought out his 2 partners in 1907 and began calling the stores J.C. Penny in 1913. There were 35 stores at this time.