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J.C. Penny announces more store closings
one news now ^ | Feb. 24, 2017 | ap

Posted on 02/24/2017 8:00:41 AM PST by Morgana

NEW YORK (February 24, 2017) — J.C. Penney said Friday that 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 online shopping.

The closures represent about 13 percent to 14 percent of the department store operator's current store count, and less than 5 percent of total annual sales. The company said that it would also initiate a voluntary early retirement program for about 6,000 eligible employees.

The news came as the Plano, Texas-based chain posted a profit in the fourth-quarter compared to a loss a year ago. But total sales were down slightly, and a key revenue metric declined slightly as well.

Penney is trying to recover from a catastrophic reinvention plan under former CEO Ron Johnson that sent sales and profits into a free-fall in 2012 and 2013. Business stabilized under Mike Ullman, who took the helm in 2013 after Johnson was pushed out. Under Marvin Ellison, who has been CEO since 2015, Penney is looking for new ways to increase sales while playing catch up in e-commerce.

(Excerpt) Read more at onenewsnow.com ...


TOPICS: Business/Economy
KEYWORDS: boycott; genderdysphoria; homosexualagenda; jcpenney; jcpenny; lgbt
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To: Morgana

Uhmm, AP. The name is “Penney” not “Penny.”


21 posted on 02/24/2017 10:05:46 AM PST by tang-soo (Prophecy of the Seventy Weeks - Read Daniel Chapter 9)
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To: Morgana

Good riddance.

I grief for what this store once was and represented: conservative, family-friendly shopping, quality products, and dedicated, clean-cut employees. Now they’re all tatted, pierced and slouch around aimlessly.


22 posted on 02/24/2017 10:06:28 AM PST by fwdude (Democrats have not been this angry since Republicans freed the slaves.)
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To: Grampa Dave

GPD. You forgot Target!


23 posted on 02/24/2017 10:08:39 AM PST by tang-soo (Prophecy of the Seventy Weeks - Read Daniel Chapter 9)
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To: HonkyTonkMan

I don’t believe St. John’s Bay is a Penney’s brand. SJB can be found all over. Amazon, Sears, Walmart......


24 posted on 02/24/2017 10:18:41 AM PST by jimtorr
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To: Morgana
A friend asked me the other day if I could remind him of what I'm boycotting and why? This is because I refuse to go to a movie (unless it's D’Souza’s), I won't step foot in Starbucks, I've quit watching football (just this year and let me just say... it was murder!... but then it got easier each week!), I will not shop at Macy's, Target or JCP, and I won't buy PepsiCo products including their chips (which is also much harder than it sounds). I think people think I'm nuts, may even call me crazy, but I want to make a loud statement without so much as saying a word! Turns out I am saving a lot of money, but that was never my purpose.
25 posted on 02/24/2017 10:29:39 AM PST by GizzyGirl
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To: Morgana

This is definitely not the store John Cash Penney founded many years ago.

My first job other than babysitting was at our local Penneys.

I knew when they fell to the “Gay Lobby” in their advertising there would be serious consequences.


26 posted on 02/24/2017 10:30:46 AM PST by Lakeside Granny ("When you can't make them see the light, make them feel the heat." Ronald Reagan)
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To: Leep

If you study colonial history you’ll find that in the beginning there were white slaves a lot more than there were black because they were cheaper. They were criminal deportees from Britian


27 posted on 02/24/2017 1:11:31 PM PST by fella ("As it was before Noah so shall it be again,")
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To: Morgana

JCPenny needs to go back to what James Cash Penny started. Of course, the CEOs in these big companies don’t know the history of their companies and they want to bash America...and American Values...


28 posted on 02/24/2017 2:23:01 PM PST by Deplorable American1776 (Proud to be a DeplorableAmerican with a Deplorable Family...even the dog is DEPLORABLE :-))
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To: oldplayer

Was’t Ellen Degenerate one of their spokeslesb?


29 posted on 02/24/2017 5:28:09 PM PST by Neoliberalnot (Marxism works well only with the uneducated and the unarmed)
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To: dartuser

Goes to show that there are simply not enough queers to support store chains.


30 posted on 02/24/2017 5:29:03 PM PST by Neoliberalnot (Marxism works well only with the uneducated and the unarmed)
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To: Neoliberalnot

“Wasn’t Ellen Degenerate one of their spokeslesb?”

Yes she was. Part of their downward spiral in the first place.


31 posted on 02/24/2017 8:50:31 PM PST by oldplayer
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To: Neoliberalnot

“Wasn’t Ellen Degenerate one of their spokeslesb?”

Yes she was. Part of their downward spiral in the first place.


32 posted on 02/24/2017 8:50:31 PM PST by oldplayer
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To: fella

Yes, indentured Servitude was all the rage.


33 posted on 02/25/2017 7:11:06 AM PST by Leep (Cyclops Network News (CNN). The Most Trusted Source Of Fake News.)
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