JC Penney to tighten 40 stores, though nothing so distant in California

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Beleaguered tradesman J.C. Penney pronounced Thursday it is shutting about 40 stores as a sequence seeks to spin around a fortunes.

The Plano, Texas-based association pronounced a stores, that paint about 4% of a 1,020 locations, will be sealed “on or about” Apr 4. None of a stores listed so distant is in California.

“While it’s never an easy preference to tighten stores … this was done after a clever research of store opening and destiny vital fit for a company,” J.C. Penney pronounced in a statement.

The sequence pronounced it would try to assistance a 2,250 employees who will be influenced by a closings to find jobs during other J.C. Penney stores. Those who can’t find new jobs will accept subdivision benefits, a association said.

J.C. Penney has been struggling to spin around a business after an luckless bid led by former CEO and Apple alumni Ron Johnson alienated shoppers and sent sales plunging. Johnson was suspended after reduction than dual years during a helm, and a sequence brought behind former CEO Mike Ulman to try to whip it behind into shape.

There are some signs that shoppers are entrance back.

This week, J.C. Penney pronounced same-store sales, that are deliberate a pivotal indicator of sell health, climbed 3.7% during Nov and December.

Shares of J.C. Penney forsaken 1 cent, or 0.2%, to $7.88 in midday trade on Wall Street on Thursday.

Follow Shan Li on Twitter @ByShanLi

Copyright © 2015, Los Angeles Times

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