J.C. Penney to close 13 to 14 percent of stores

NEW YORK (AP) – J.C. Penney says it will be closing anywhere from 130 to 140 stores as well as two distribution centers over the next several months as it aims to improve profitability in the era of.

will also close in early June. The company said it will. net increase in hiring as employees take advantage of the program. The store closings represent 13 to 14 percent of J.C. Penney’s portfolio.

NEW YORK (AP) J.C. Penney says it will be closing anywhere from 130 to 140 stores as well as two distribution centers over the next several months as it aims to improve profitability in the era of.

J.C. Penney to close Lakeland Distribution Center and 13 to 14 percent of stores. In this Feb. 19, 2015, file photo, shoppers visit a J.C. Penney store in New York.. represent about 13.

J.C. Penney to close 13 to 14 percent of stores. But total sales were down 0.9 percent from a year ago and revenue at stores opened at least a year was down 0.7 percent. Like other department.

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J.C. Penney Company will close 130 to 140 stores and two distribution centers during the next several months as it aims to improve profitability in the era of online shopping. The closures, announced.

For the fiscal fourth quarter, J.C. Penney reported net income of $192 million, or 61 cents per share. Earnings, adjusted for one-time gains and costs, came to 64 cents per share. The results.

J.C. Penney released a list Friday of the 138 stores it plans to close in an effort to cut costs and grow sales at its strongest locations. The closures, first announced in February, represents about 13 to 14 percent of the Plano-based company’s current store count, and less than 5 percent of total annual sales. Roughly 5,000 jobs will be affected by the closures.

The stores account for 13 to 14 percent of J.C. Penney’s current store portfolio, but together they only draw five percent of annual sales. J.C. Penney will also close two distribution centers.

J.C. Penney to close 13 to 14 percent of stores. MGN/Mike Mozart/cc by 2.0.. The closures, announced Friday, represent about 13 percent to 14 percent of the company’s current store count, and.

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