*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 Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

Harvard Prof: Marketers Need to Step Up Their Predictive Abilities

Harvard Prof: Marketers Need to Step Up Their ...

Statistics expert Edo Airoldi says data must be paired with predictive analytics before marketers can truly forecast customer behavior.

The (Marketer's) TV Guide

The (Marketer's) TV Guide

Public broadcasting station WGBH in Boston cleans up its dirty data and boosts donations.

Acxiom Mobilizes and Socializes SMBs

Acxiom Mobilizes and Socializes SMBs

MyAcxiomPartner.com enables simple campaigns for social and mobile channels.