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JCPenney restructuring to shut 6 stores, catalog operations

submitted on January 24, 2011 by HouTex in "Stores / Merchants"
JCPenney Company Inc today (1/24/11) revealed some cost-cutting measures to better manage costs and allocate resources more effectively. Shares of the company were up 6.8% at the announcement of plans to streamline its operations focusing on long-term growth.

They will
1. close six under-performing department stores
2. wind down its catalog and outlet business, including the 19 outlet stores that carry a significant amount of catalog merchandise
3. consolidate its call centers
4. reorganize its custom decorating business into one facility in Statesville, North Carolina, closing 225 in-store studios

The shut-down will be carried out over the course of 2011 and 2012. The retailer operates over 1,100 department stores, and posted a 5.7% rise in same-store sales for December 2010.

http://www.mrketplace.com/1203.....logue-ops/
                 

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  Comments
  • 99043
    CouponNut
    deity
    23 14 8
    12 10 2
    Posted by CouponNut on January 24, 2011
    [reply] 3 0
    Interesting and good to know about these things.
  • 99076
    honesta
    master
    Posted by honesta on January 25, 2011
    [reply] 4 0
    they never required a catalog - with everything online.
  • 99083
    deby32953
    professor
    Posted by deby32953 on January 25, 2011
    [reply] 3 0
    I prefer to shop online, actually have to anyway. Except I always deliver to store to keep costs down. Oh, no....
  • 99115
    sandyshore
    professor
    2 1
    12 8 1
    Posted by sandyshore on January 25, 2011
    [reply] 3 0
    We have an outlet not to far away it was always a place to go for good bargains.
  • 99123
    CouponNut
    deity
    23 14 8
    12 10 2
    Posted by CouponNut on January 25, 2011
    [reply] 2 0
    As long as JCP offers the customer satisfaction survery, I will always shop there and SAVE$$$$ Mr Green

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