JC PENNEY Jimmy Penny (J.C. Penney) was founded in 1902 in the mining town of Wyoming, USA, and currently headquartered in Salt Lake City, USA. At the beginning of the shop, James Penney, based on the town's situation, the hobby and needs of the residents, purchased the quality goods and marked the price on each item, the price was the same for all classes. It was not common at the time.