Department store JC Penney to close 8 more stores

Must Read

JC Penney which has already shuttered dozens of locations in the wake of sluggish sales, will close eight more stores this year, eliminating the jobs of roughly 480 employees.

The retailer says that as it takes steps to restore revenue and profits, it is constantly looking at the performance of its stores. “During this review, the decision was made to close eight stores across the country,” the company said in a statement.

The closures span eight states from New Jersey to California. The stores will permanently close in May.

JC Penney is set to report fiscal fourth-quarter earnings on March 2, when it will share more details on these initiatives and any impacts from new U.S. tax legislation.

The move comes on the heels of the retailer saying this week that it would be closing a distribution center in Wauwatosa, Wisconsin this summer, leading to the loss of 670 jobs.

Latest News

D2C success mantras: Clear fundamentals, personalized approach

Leaders at the India D2C Summit 2023 discussed the secrets behind the success of D2C brands Mumbai: The second day of...

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.