Jc Penney Store Closings

Jcpenney Closing Stores, Also Offering ‘voluntary Early Retirement

... and special sizes in a “vibrant” shopping environment are showing higher sales and still are vital. That should bode well for the Columbus JCPenney, which has undergone major remodels in recent years , while also adding the popular Sephora beauty line within its separate store-like location just steps inside the store’s entrance to Peachtree Mall. Another anchor at the 3131 Manchester Expressway mall, department store Macy’s, also survived a recent round of store closings by its parent company. Kevin Berry, senior vice president of investor and public relations at Chicago-based General Growth Properties, the mall’s owner, essentially said no comment Friday when asked about the performance and fate of the local JCPenney, its major tenant. (Sears and Kmart stores in Columbus are closing). JCPenney and its local workforce are accustomed to rolling with the changes, having ...

Sears' And Macy's Store Closures Could Present A Major Opportunity For J.c. Penney

... end of the same shopping center. J. C Penney co-anchors about 450 malls with Sears, meaning about half of its locations could be poised to benefit from Sears' implosion. Why it may not be so easy. Despite the conventional wisdom that a rival's closing stores would be good for competitors, data from Four Square, a location-tracking app, shows that the effects of such closures aren't so direct. Four Square looked at the effects of past retail closings and made three broad conclusions about the upcoming Sears and Macy's closings. First, it predicted that millennials will flock to closeout deals as stores liquidate merchandise, as it found that more than 80% of shoppers visiting Kmart and Macy's locations that were closing had not been there in more than six months. It also found that chains that close stores have an opportunity to retain both loyalists and opportunists who may have been ...

Local Shoppers React To Possible J.c. Penney Closures

... says it's the competition of online sales. In a news release from J. C. Penney, they stated. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers.". The company went on to say that  75 percent of all online orders touched a physical store. Online shoppers then have the option to pick up the item in stores. While the Shenango Valley Mall declined to comment on the issue, 21 News reached out to the Eastwood Mall. Officials stated. "We have absolutely no reason to believe that the Penny store at the Eastwood Mall would close. This is a cycle, but we always have the idea in our back pockets.". Southern Park Mall officials declined to comment. For Shenango Valley Mall Shoppers, they say traveling out of town to go to a shopping mall with a J. C. Penney is inconvenient. "It's just going to make ...

Jcpenney Closing 130-140 Stores; Overnight Fire At Thonotosassa Mosque; Next Steps For Tangerine Plaza; How To Slow Bayshore Boulevard Traffic

... COST RISING TO CREATE 'QUIET ZONE' IN DOWNTOWN TAMPA FOR TRAIN HORNS. [Times file, 2015]. A CSX train leaves downtown Tampa along the tracks under the William F. Poe Parking Garage. The sound of train horns warning motorists has become a bigger problem as the number of people living in downtown Tampa has grown in recent years. The cost of creating a "quiet zone" for train horns in downtown Tampa started at $2.7 million, but now has risen to more like $3.17 million. And City Hall is covering much of the difference, Richard Danielson writes. OVERNIGHT FIRE AT THONOTOSASSA MOSQUE UNDER INVESTIGATION. Hillsborough fire crews are investigating an overnight fire at a mosque in Thonotosassa. The fire occurred at an entrance door of the Islamic Society of New Tampa, 15830 Morris Bridge Road, and was quickly put out around 2 a.m., according to 10 News WTSP. MOSI BRINGS BACK PAY FOR A DAY TICKET DEAL STARTING SATURDAY. Tampa's Museum of Science and Industry is bringing back its pay for a day ticket deal starting Saturday, ...

J.c. Penney Is Closing Up To 140 Stores As Turnaround Falters

... for a retailer that had been coming back from the brink after an ill fated attempted to be hipper in 2012. Penney, which operates about 1,000 stores, had halted store closings last year , saying that its physical stores were essential to supporting its e-commerce, given that about one third of orders are shipped from, or picked up in a store. (Earlier this week, Kohl's said it would shrink rather than close stores for that reason.). But as the retailer expands its chain of Sephora boutiques, new appliance sections, and upcoming Nike (nke) boutiques, it has decided to concentrate its efforts on stores that can succeed, acknowledging it cannot keep all stores in such a massive fleet up to standard. "Our decision to close stores will allow us to raise the overall brand standard of the Company and allocate capital more efficiently," Penney CEO Marvin Ellison said in a statement. In a Fortune profile a year ago , Ellison said that almost all Penney stores generated more cash than they consumed. But since then, rivals like Macy's (m) and Sears (sold) have closed hundreds of stores, something that will decimate traffic at malls the three chains co-anchor. What's ...

J.c. Penney Co. Announces Store Closings

... stores and two distribution facilities over the next few months, continuing a trend that has seen major retailers scale back and retrench as more shoppers do their buying online. The move, announced on Friday, comes as the Texas-based retailer posted a net profit of $1 million for 2016, compared with the previous year’s $513 million loss. Net sales were $12.5 billion for 2016, a 0.6 percent decrease from the previous year. Last year was the first year the company has posted a profit since 2010. In 2013, it reported a net loss of nearly $1.3 billion. The closings are expected to result in $200 million in annual savings for the company. The department store giant operates more than 1,000 locations across the United States and Puerto Rico, including the JCPenney and JCP Salon in West Lebanon’s Upper Valley Plaza. The list of stores to be closed won’t be released until mid-March, the company said. ...

J.c. Penney Plans Store Closings

... stores because shoppers are increasingly doing more of their buying online. The company said Friday that it will close approximately 130 to 140 of its more than 1,000 stores over the next few months as part of an effort to improve profitability and help align the company's store presence with its online sales. A parade of closings began last month following a holiday season that saw store traffic fall, thanks to a 17.8 percent rise in online sales, according to e Marketer. Macy's and Sears were among the chains that announced store closings, and The Limited shut down its entire chain. "People are becoming more comfortable with buying everything, even clothing, online," said local retail consultant Chris Boring. "Once they realize they can make a purchase online and it's not a hassle, they keep doing it. My prediction is that by 2030 we'll be buying most of our clothing online.". Penney posted a profit in 2016 for the first time since 2010, but that wasn't enough to keep the company from announcing a cutback. "We ...

Jcpenney Closing 140 Stores, Cutting 6,000 Jobs A Glimpse Of The New Normal

... business to effectively compete against the growing threat of online retailers,” Ellison said in a statement. “While many pure-play e-commerce companies are experiencing dramatically increasing fulfillment costs, we are pleased with the double-digit growth of __link__ and how leveraging our brick-and-mortar locations is enabling us to offset the last-mile delivery cost.”. Ellison figures the winning combination will be a “frictionless interaction between stores and e-commerce,” while leveraging physical locations to minimize the growing operational costs of delivery. Still recovering from a bad reinvention plan. The department store chain has been recovering from a catastrophic reinvention plan under former CEO Ron Johnson that sent sales and profits into a free fall in 2012 and 2013. Business stabilized under Mike Ullman, who took the helm in 2013 after Johnson was pushed out. Under Ellison, who has been CEO since 2015, J. C. Penney is looking for new ways to increase sales while ...

J.c. Penney Is Closing Up To 140 Stores

... days after they hit theaters. But here's the rub: Early rentals will cost a lot more money—up to $50 a pop, according to a report from Variety. Theater chains have been resistant to the idea of shorter release windows, insisting it would eat into their bottom line. The standard window is 90 days from theatrical release to the home market. Read the full story here. Nasty Gal is bankrupt and everybody is asking why. Nasty Gal , the edgy vintage-inspired clothing store founded by Sophia Amoruso , is about to be sold for $20 million to British online store __link__. This comes after the company filed for Chapter 11 in November. Everybody is now trying to figure out exactly what went wrong, given that the brand went from a humble e Bay store to a $100 million company in six years, then tumbled back down again. The dominant thesis is that Nasty Gal spent too much on advertising and plush new headquarters, but never acquired a loyal customer base, partly because product quality wasn't high. The brand was also deeply tied to Amoruso and ...