JC Penney To Close 130 Stores
(Plano, TX) — JC Penney will close more than 130 of its stores over the next few months, as it shifts its focus to locations that are most likely to thrive. The department store chain will also close two distribution centers and will offer early retirement to about six thousand employees. The list of closings will be released next month, after store managers and workers are notified. Penney is in the midst of turnaround efforts that have been viewed as largely successful. It made the closings announcement while reporting fourth quarter earnings that beat expectations, although same-store sales were down slightly.
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Dawn Nici/jm
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02-24-2017 07:38:03
