J. C. Penney Company announced Wednesday it is closing 33 underperforming stores as part of its efforts to further the growth of the company. This closing affects the J. C. Penney store at Northgate Mall.
These actions are expected to result in an annual cost savings of approximately $65 million, beginning in 2014.
Remaining inventory in the affected stores will be sold over the next several months. The final closings are expected to be complete by early May also resulting in approximately 2,000 positions loss.
Meanwhile, the Company is continuing its plans to open a new store later this year in Brooklyn, N. Y.
Thursday, August 28 2014 7:49 PM EDT2014-08-28 23:49:55 GMT
A Montgomery County judge said Thursday he is reluctantly taking an animal cruelty case to the grand jury, but he doesn't believe there's enough evidence to convict suspects Eric and Nicole Hulbig. More >>
A Montgomery County judge said Thursday he is reluctantly taking an animal cruelty case to the grand jury, but he doesn't believe there's enough evidence to convict suspects Eric and Nicole Hulbig.More >>
Thursday, August 28 2014 7:30 PM EDT2014-08-28 23:30:03 GMT
Nigerian Health Minister Onyebuchi Chukwu says two more Ebola cases exist in the country, raising the number of confirmed cases to 15.More >>
The Ebola outbreak in West Africa is accelerating and could grow six times larger to infect as many as 20,000 people, the World Health Organization said Thursday. The U.N. health agency unveiled a new road map for...More >>
Thursday, August 28 2014 6:00 PM EDT2014-08-28 22:00:21 GMT
NFL players will be subject to a six-week suspension for a first domestic violence offense and banishment from the league for a second under a new policy outlined by Commissioner Roger Goodell.More >>
Acknowledging he "didn't get it right" with a two-game suspension for Ravens running back Ray Rice, NFL Commissioner Roger Goodell announced tougher penalties for players accused of domestic violence, including six...More >>