PLANO, Tex. — Department store J.C. Penney will close 40 stores and cut about 2,250 jobs in a bid to bolster profitability. The closures will take place in 19 states and most will be completed by April 4. The company has been turning around from a failed effort to reinvent itself under former CEO Ron Johnson. It announced 33 store closures a year ago, and saw improvements in its holiday sales. It now has a new CEO lined up: former Home Depot executive Marvin Ellison takes over from Mike Ullman in August.
J.C. Penney to cut stores, jobs
Most Recent
Most Read
Weyerhaeuser sales, earnings slip in Q2
Fri, July 26th, 2024
Don’t miss the incredible speakers at the Hardlines Conference!
Fri, July 26th, 2024
Canfor announces CEO succession
Thu, July 25th, 2024
West Fraser reverses Q2 loss
Thu, July 25th, 2024
Tractor Supply’s comp sales dip in Q2
Thu, July 25th, 2024
Loblaw turns in mixed Q2 results, strong online sales
Thu, July 25th, 2024
In memoriam: blues rock legend John Mayall
Thu, July 25th, 2024
Barcodes turn 50
Wed, July 24th, 2024
Featured Classified: RONA
Wed, July 24th, 2024
RONA affiliate makes acquisitions in Ottawa area
Tue, July 23rd, 2024