New York – JC Penny Opens Its First Manhattan Retail Location

New York – It is a bold move from JC Penny’s. On Saturday The company opened a flagship store in Herald square today, one block away from Macy’s.

After 107 years in business and 75 years with New York City as it’s headquarters, JC Penny has opened its very first Manhattan retail location in Herald’s Square.

“It’s a state of the art store,” said JC Penny’s CEO Myron Ullman. “It’s designed for speed of transaction for our customers. We know they’re in a hurry.”

Mayor Bloomberg who attended the the ribbon cutting said he is ecstatic.

“It’s gonna employ 500 people, but also it gives you another alternative place to shop. And, particularly in tuff economic times, their price point is alot lower than some other stores so it will give people an alternative for back to school and for their own wardrobes. It’s something they can afford,” says Bloomberg.

On that note, JC Penny’s already says there were 15,000 applications sent in for the new 500 jobs.