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
Home Hardware manager wins NHPA award
Tue, April 23rd, 2024
Meet IKEA Canada’s Tanja Fratangeli in our new podcast
Tue, April 23rd, 2024
Two more building centres in Alberta now flying Home banner
Mon, April 22nd, 2024
Immigration measures shouldn’t neglect labour market: CIBC report
Mon, April 22nd, 2024
West Fraser closes sale of pulp mills
Mon, April 22nd, 2024
Castle holds AGM in Las Vegas
Mon, April 22nd, 2024
RONA completes sale of DC near Montreal
Fri, April 19th, 2024
Home Hardware marks 60 years
Fri, April 19th, 2024
Retail Council event will tackle HR questions
Fri, April 19th, 2024
Construction spending slips in February
Fri, April 19th, 2024