JC Penney to close 40 stores in 2015

[question everything]

Source: CNBC

J.C. Penney said Thursday it will close about 40 stores over the next year.

The closures, which represent nearly 4 percent of the 1,060 Penney U.S. stores, will affect about 2,250 employees, according to spokesman Joey Thomas.

Penney's stock was down 1.8 percent in morning trading Thursday.

Most locations will close on or about April 4, Thomas said.


Read more: http://www.cnbc.com/id/102321131?__source=yahoo|finance|headline|headline|story&par=yahoo&doc=102321131#.

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Sad. I like J C Penny... when I go shopping..

[avaistheone1]

1. I hope the company survives with as little damage to their employees as possible.

I like JC Penney too.

[yeoman6987]

7. I am so pissed. Republicans are blaming this on their campaign using Ellen Degenerous and the

the support of gay rights. UGH! I hate Republicans so much!

[YarnAddict]

2. Supposedly

JCP offers a worse benefit package than Wal-Mart. Maybe their laid-off employees will end up better off.

[Brigid]

8. They do? Really?

I hardly thought it was possible to offer a worse pay snd benefits package than Wal-Mart.

[YarnAddict]

9. Yeah, I was kind of surprised

but that's what my dh mentioned when I told him about JCP. He keeps an eye on stuff like that, so I think he knows.

[durablend]

3. Going to be a whole lot of hurt

For properties that have *it* and a Sears location ("will *it* close too?)

[OhioChick]

4. I feel for the 2250 that will be losing their jobs

I've always liked Penney's.

[hollysmom]

5. no surprise here

most of the JC Pennys around here are in the not good malls. And Malls are really hurting, wish I knew why they are building more when the old ones are empty.

[herding cats]

6. Believe it or not, this is actually a sign Penny's may be doing better.

They announced the closure of 33 stores this time last year, and it was being speculated they'd close a lot more than 14 this year. They've been going through quite a bit of trouble, and restructuring including playing musical CEO's, for the past three years now.