NOW AVAILABLE: THE FIRST



J.C. Penney Closing 33 Stores, Laying Off 2,000

Source: USA Today

J.C. Penney will close 33 stores and lay off about 2,000 employees, the retailer said Wednesday.

“These actions are expected to result in an annual cost savings of approximately $65 million, beginning in 2014,” the company says in a press release issued after the close of the stock market.

CEO Myron E. Ullman said in the release: “While it’s always difficult to make a business decision that impacts our valued customers and associates, this important step addresses a strategic priority to improve the profitability of our stores and position JCPenney for future success.”

To follow this topic visit the USA Today.

Related Posts Plugin for WordPress, Blogger...

Tags:

Follow Roland Martin Reports on Twitter

Follow Roland S. Martin's Timeline On Facebook

Get Roland Martin Reports in your inbox!
Sign up for Roland Martin Reports Daily News Update powered by FeedBurner

  • ken

    it is all J.C.Penney’s fault for treating customers the way they do.We always shopped Penney’s then we were treated bad .we dont care close all of your stores because we wont step inside another one ever.

WP-Backgrounds Lite by InoPlugs Web Design and Juwelier Schönmann 1010 Wien