*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:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

Epicor to Acquire Analytics Provider QuantiSense

Epicor to Acquire Analytics Provider QuantiSense

Retail solutions provider seeks to up its data analytics game for large and midsized retailers.

One Third of Companies Fail to Measure Data Quality ROI

One Third of Companies Fail to Measure Data ...

Twenty percent of companies assume their data quality tools pay off, while another 10% doesn't monitor ROI at all.

Ensighten and Anametrix Unite in an Open Relationship

Ensighten and Anametrix Unite in an Open Relationship

Ensighten's purchase of the analytics company is about giving ultimate ownership of data to marketers, says CEO Josh Manion.