J.C. Penney on Friday released a list of 138 department stores it plans to close as part of a previously announced plan to shrink its footprint as it grapples with industry challenges. The company had estimated that it would close 130 to 140 locations. Most stores will begin liquidation sales April 17 and close in […]
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JC Penny’s Closing 140 Stores
J.C. Penney (JCP) plans to close 130 to 140 stores and offer buyouts to 6,000 workers as the department-store industry sags in competition with online sellers and nimble niche retailers. The company said Friday that it would shutter 13% to 14% of its locations and introduce new goods and services aimed at the shifting preferences […]