The Treasury was a chain of discount stores owned by J.C. Penney. Through an acquisition of the General Merchandise Company in 1962, J.C. Penney entered the discount store market by launching The Treasury.

The General Merchandise Company, which began Treasure Island, was founded by David Kritzik and his two sons, Robert and Stanley, in Milwaukee, WI. The original stores were named Treasure Island, but because of trademark and copyright conflicts, some of the stores that were subsequently opened, were called The Treasury. In 1962, J.C. Penney was looking to break into the catalogue business, and used their acquisition of the Treasure Island brandname to do so.

Eventually the Treasury had locations in most Southern U.S. states and California. Some stores also sold food and fuel, like Wal-Mart Supercenters of today. But the recessions of the 1970s and early 1980s were too much to bear for J.C. Penney, and the division started losing money. The Treasury stores were eventually closed about 1981. However, the catalogue business, which was the main reason for J.C. Penney's acquisition of Treasure Island, is a thriving, multi-billion dollar endeavor.