USA: J.C. Penney updates on store closings
J.C. Penney (JCP -1.3%) releases the list of 138 stores and the one Florida supply chain it will be closing.
The company says 5K jobs will be impacted by the closings.
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“We believe closing stores will allow us to adjust our business to effectively compete against the growing threat of online retailers,” said JCP Marvin Ellison when the closings were first announced last month.
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