*J.C. Penney to Close Up to 50 Stores

Share this article:
J.C. Penney announced yesterday that it will close as many as 50 department stores nationwide.


The move comes four months after Allen Questrom was named J.C. Penney's new chairman. Some industry experts say the move is an attempt to revive the ailing retailer who has lost customers to major rival Sears Roebuck and to low-price chains such as Kohl's, Target and Old Navy.


The last big round of closings - 45 department stores and 279 Eckerd drugstores - was announced 11 months ago under former Chairman James Oesterreicher, who resigned May 2000.


No information was released on whether the closings would affect the J.C. Penney big book catalog.
Share this article:
close

Next Article in Database Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Database Marketing

Making Data Breach Readiness a Priority

Making Data Breach Readiness a Priority

5 ways marketers can prepare for possible data breaches.

What's H-appending? DiscoverOrg Taps Marketo's Webhooks

What's H-appending? DiscoverOrg Taps Marketo's Webhooks

Cloud-based marketing automation behemoth Marketo joins forces with marketing intelligence company DiscoverOrg to improve its data collection capabilities.

A Toast to Marketing Attribution

A Toast to Marketing Attribution

Vino accessories and storage company Wine Enthusiast indentifies top and underperforming affiliates using algorithmic marketing attribution.