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J.C. Penney to Close 33 Stores and Cut 2,000 Jobs

It was announced on Wednesday that J.C. Penney Co. will close 33 of its stores, cutting 2,000 jobs, according to The Wall Street Journal.

Earlier this winter, the store refused to releases its holiday sales information, but did say publicly that it was happy with the sales numbers from the holiday season.

Prior to the cuts, the company employed 116,000 staffers across more than 1,100 stores.

The announced cuts should save the company close to $65 million annually. The company is planning to take on $26 million in pretax charges for the third quarter. Then, the company will take on $17 million in future quarters.



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The full list of stores being shuttered include the following:

State City Shopping Center
AL Selma Selma Mall
CA Rancho Cucamonga Arrow Plaza
CO Colorado Springs Chapel Hills Mall
CT Meriden Meriden Square
FL Leesburg Lake Square Mall
FL Port Richey Gulf View Square
IA Muscatine Muscatine Mall
IL Bloomingdale Stratford Square Mall
IL Forsyth Hickory Point Mall
IN Marion Five Points Mall
IN Warsaw Marketplace Shopping Center
MD Salisbury The Centre at Salisbury
MI Marquette Westwood Plaza
MN Worthington Northland Mall
MS Gautier Singing River Mall
MS Natchez Natchez Mall
MT Butte Butte Plaza Shopping Center
MT Cut Bank (N/A)
NC Kinston Vernon Park Mall
NJ Burlington Burlington Center
NJ Phillipsburg Phillipsburg Mall
OH Wooster Wayne Towne Plaza
PA Exton Exton Square Mall
PA Hazleton Laurel Mall
PA Washington Washington Mall
TN Chattanooga Northgate Mall
VA Bristol Bristol Mall
VA Norfolk Military Circle Mall
WI Fond Du Lac Forest Mall
WI Janesville Janesville Mall
WI Rhinelander Lincoln Plaza Center
WI Rice Lake Cedar Mall
WI Wausau Wausau Mall
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Posted by on January 16, 2014. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

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