Interviews
News Flash
JCPenney takes 1st step in store optimisation strategy
09 Jun '20
1 min read
Pic: JC Penney
JC Penney has taken the first step in implementing its store optimisation strategy following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit, the company recently announced. It has already filed for Chapter 11 in a US bankruptcy court and store closing sales will begin at 154 locations.
Store closing sales for the first round of store closures are expected to take 10-16 weeks to complete. The company expects additional phases of store closing sales to begin in the coming weeks, it said in a press release.
“While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come,” said Jill Soltau, chief executive officer of JCPenney.
Store closing sales for the first round of store closures are expected to take 10-16 weeks to complete. The company expects additional phases of store closing sales to begin in the coming weeks, it said in a press release.
“While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come,” said Jill Soltau, chief executive officer of JCPenney.
Fibre2Fashion News Desk (DS)
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
