Despite Profitability, JC Penny To Close Stores
The retail giant announced that it will be closing 130 to 140 stores nationwide./ Despite announcing a positive net income for 2016, J.C. Penney announced Friday that it would be shuttering 130 to 140 of its stores in the coming months. The mega-retailer also announced that it would be offering around 6,000 employees a “voluntary early retirement program,” USA Today Friday. The program will apply to workers who were of particular tenure and age. Although J.C. Penney exceeded earnings expectations, at 64 cents a share as opposed to the ...
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