.

JCPenney to Close 33 Stores Across U.S.

Stores in Orland Park and Mokena are not listed among the locations expected to close.

By Marc Fortier

JCPenney announced Wednesday that it is closing 33 "underperforming" stores and cutting 2,000 jobs as part of its turnaround efforts.
The Orland Park and Mokena stores were not included among the list of locations scheduled to close. In Illinois, two locations were on the closure list, Bloomingdale and Forsyth.

Here is the full list of store closings. 

The closures and job cuts are expected to save the company about $65 million a year.

Remaining inventory in the affected stores will be sold over the next several months, with final closings expected to be complete by early May. 

"As we continue to progress toward long-term profitable growth, it is necessary to reexamine the financial performance of our store portfolio and adjust our national footprint accordingly," Myron E. (Mike) Ullman, III, chief executive officer of J.C. Penney said in a prepared statement. "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 J.C. Penney for future success."

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something