J.C. Penney Co. will shutter two distribution centers and 130 to 140 stores as the big-box department store contends with falling foot traffic and ramps up to compete with online retailers.
The closures announced Friday represent 13% to 14% of the company’s store portfolio, less than 5% of total annual sales and 0% of net income.
Submitted February 24, 2017 at 08:26AM by gambit270 http://ift.tt/2lN4qN4
