Monday, February 27, 2017

J.C. Penney to close 130-140 stores

Image result for jc penney store closingDespite reporting its first quarterly profit since 2010, J.C. Penney announced its biggest number of store closings in recent history on Friday, a move that will result in the retailer exiting some smaller markets entirely.

Penney said it will close 130 to 140 stores over the next few months. That represents about 13 percent of its 1,014 stores. Those stores generated less than 5 percent of total annual sales and were unprofitable, the company said.. . . more

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