Home » Mundo » JC Penney closing 130 to 140 stores, two distribution centers

J.C. Penney said Friday that it will be closing up to 140 stores and two distribution centers over the next several months to improve profitability in the era of online shopping.The company said it would also initiate a voluntary early retirement program for about 6,000 employees from among its home office, stores and supply chain personnel. The only J.C. Penney store in the Lehigh Valley is at the Lehigh Valley Mall in Whitehall Township.The Penney stores slated to close are underperformers, representing 13 to 14 percent of the company’s store count yet generating less than 5 percent of sales. Terminally ill Bradley Lowery to be England mascot
Tonight his mother Gemma wrote on Facebook: ‘Bradley has had scans the last couple of days to see if treatment is working. The message on Bradley’s campaign page read: “Unfortunately the results are not what we wanted to hear”. Sales at stores open more than a year fell 0.7 per cent in the fourth quarter ended January 28, bigger than the 0.5 per cent drop estimated by analysts polled by research firm Consensus Metrix. Same-store sales fell 0.7 percent.Like other department stores, J.C. Penney is trying to adjust to changing shopping patterns, and is joining other department stores, like Macy’s, which are shrinking their store footprint.There’s also the financial struggles of Sears that has led to store closings, along with Dillard’s converting more mall stores into clearance centers, such as at Oak Hollow Mall in High Point, and the August 2015 sale of Belk to a private-equity group for $3 billion.Approximately 130-140 stores will be closed over the next few months along with two distribution facilities – one in Buena Park near Los Angeles and the other in Lakeland, Florida. Carlos Ghosn, the man behind reboot of Nissan steps down as CEO
On February 22, the Japanese automaker announced that Hiroto Saikawa will become its new CEO on April 1, 2017. This gave Nissan a lease of life from the deathbed and Ghosn was named Nissan’s chief executive in 2001. What’s more, 1,000 stores is roughly the size of the fleet that Penney possessed when it had annual sales of $19 billion a decade ago. In the retail space, this is only becoming all too common as brick-and-mortar store retailers just can not make up the difference of in-store losses versus online sales gains. It expects to close the stores in the second quarter.Total operating expenses for the quarter declined 24.8 percent from previous year to $1.04 billion.The company, which has been performing better than some of its department-store peers, also announced an early retirement program that will impact about 6,000 employees.For the fiscal fourth quarter, J.C. Penney reported net income of $192 million, or 61 cents per share. The shells of the stores that get left behind often sit vacant for years and basically have an invisible sign that says “This company just died here, stay away!” Intense Workouts May Hurt Your Sex Life
These categories were match with the subjects’ sexual appetite divided into whether they have low, moderate or high libido. Perhaps most important, he hopes eventually to pin down at what point exercise might start to lower some men’s libidos.

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