JCPenney was founded in 1902 by James Cash Penney as the Golden Rule store.
Penney opened the first Golden Rule store with partners Guy Johnson and Thomas Callahan in Kemmerer, Wyoming. The store emphasized fair treatment, dependable merchandise, and a cash-based business model that avoided the credit practices common in some small-town stores.
Penney gradually expanded the chain, and the company adopted the J. C. Penney name in 1913. Its stores became fixtures in American downtowns and later in shopping malls, selling clothing, home goods, and other general merchandise.
The retailer is often called simply Penney’s, but the official brand styling has used JCPenney. The Golden Rule name belongs to the company’s early period and should not be confused with a modern store banner.