J.C. Penney Co. Inc. said it will be closing 33 underperforming stores across the country, eliminating 2,000 jobs, as part of its turnaround efforts.
None of the stores are in Texas. Penney has roughly 1,100 stores nationwide.
The closures are expected to save the company $65 million annually beginning this year. In connection with the initiative, Penney also expects to incur estimated pretax charges of $26 million in the fourth quarter of fiscal 2013 and approximately $17 million in the future.
Read the full story at Dallas Business Journal.
