Sears, which was America’s largest retailer in the 1980s, was founded in 1892. 24/7 Wall St. Key Points: Retailer JCPenney still has more than 600 stores in the United States. JCPenney may continue to survive because it is still a “something for everyone” store that offers deep discounts. What is important is that JCPenney faces either margin compression or a threat to its deep discount reputation. JCPenney has survived decades of challenges.