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
Regal ideas wins prestigious international creative award
Fri, December 08th, 2023
RONA makes another round of Lowe's store conversions
Fri, December 08th, 2023
Gagnon hardware chain celebrates 50 years
Fri, December 08th, 2023
Trex awarded three accolades for sustainability
Fri, December 08th, 2023
WRLA honours Murray FInkbiner with industry achievement award
Thu, December 07th, 2023
Throwback Thursday: 20 years ago, Home Depot acquired Economy Maintenance Supply
Thu, December 07th, 2023
Find fun—and money making—sales tips in latest issue of Dealer News
Thu, December 07th, 2023
Patrick Morin, founder of the Quebec retail chain, dies at 96
Wed, December 06th, 2023
Featured Classified: Wolf Gugler Executive Search
Wed, December 06th, 2023
Gillfor partners with IKO in exclusive distribution deal
Tue, December 05th, 2023