Penney, which operates an anchor store in Rimrock Mall, announced Friday that its closing 130 to 140 stores and two distribution centers to cut costs. J.C. Penney officials say they expect to release a list of which stores are closing within the next few months. Rimrock Mall spokesman Daron Olson said officials from J.C. Penney did not contact anyone at Rimrock Friday about the closures. J.C. Penney is also initiating a voluntary early retirement program for about 6,000 employees companywide. As an anchor tenant, J.C. Penney plays a key role in attracting foot traffic to make Rimrock Mall vibrant.
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24, 2017) While which stores will close remains a mystery, the company did say a distribution center in Lakeland, Florida will be closed and that a supply chain facility in Buena Park, California was being sold "to monetize a lucrative real estate asset." The news came as JCPenney posted a profit in the fourth-quarter compared to a loss a year ago. The company posted quarterly sales of $3.96 billion, down 0.9 percent from $3.99 billion a year ago.
To read more about clothing websites visit online fashion shoppingVideo Jogger Not Expected to Face Charges in Shooting: Police JCPenney is joining other department stores like Macy's who are shrinking footprints amid challenges in the industry. CEO Marvin R. Ellison mentioned the "threat" that online retail presents in a statement announcing the changes. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers," Ellison said in a statement. AP Ellison also announced a voluntary early retirement program that about 6,000 employees are eligible for. We understand that closing stores will impact the lives of many hard working associates, which is why we have decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates. By coordinating the timing of these two events, we can expect to see a net increase in hiring as the number of full-time associates expected to take advantage of the early retirement incentive will far exceed the number of full-time positions affected by the store closures, added Ellison. McKinney Farmer Battles 'Worst Feral Pig Invasion' Revenue at stores open at least a year was down 0.7 percent.
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