- Mar 19, 2006
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JC Penney to shed 33 stores, cut 2000 jobs
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Reuters: File Photo
J.C. Penney operates about 1,100 stores in the United States.
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<time data-always-show="true" datetime="2014-01-15T21:45:00.000Z">58 min ago</time> By Reuters </section> </section>
<section itemprop="articleBody">J.C. Penney said it will close 33 underperforming stores for a cost savings of $65 million per year. The struggling department store chain also will cut 2,000 jobs.
NEW YORK ? J.C. Penney Co Inc said on Wednesday it will close 33 underperforming stores and cut 2,000 jobs as part of its turnaround.
The closings will generate cost savings of $65 million per year, beginning in 2014. Penney expects estimated pretax charges of about $26 million in the current quarter.
The struggling department store chain operates about 1,100 stores in the United States and had 116,000 employees as of February 2, 2013.
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I am reminded of the 50' and 60' when my mom and grandmother would take my brother and I shopping for school clothes..
It was a huge deal to be able to pick out our clothes there..
They can't seem to bridge the gap between WalMart shoppers and their business model..
Have always thought there was a way to do it and not end up like a giant Target with over-priced everything..
So Sad...
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<section class="storyimage">
J.C. Penney operates about 1,100 stores in the United States.
<section class="partnerlogo">
<section itemprop="articleBody">J.C. Penney said it will close 33 underperforming stores for a cost savings of $65 million per year. The struggling department store chain also will cut 2,000 jobs.
NEW YORK ? J.C. Penney Co Inc said on Wednesday it will close 33 underperforming stores and cut 2,000 jobs as part of its turnaround.
The closings will generate cost savings of $65 million per year, beginning in 2014. Penney expects estimated pretax charges of about $26 million in the current quarter.
The struggling department store chain operates about 1,100 stores in the United States and had 116,000 employees as of February 2, 2013.
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I am reminded of the 50' and 60' when my mom and grandmother would take my brother and I shopping for school clothes..
It was a huge deal to be able to pick out our clothes there..
They can't seem to bridge the gap between WalMart shoppers and their business model..
Have always thought there was a way to do it and not end up like a giant Target with over-priced everything..
So Sad...
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