J.C. Penney to close 33 stores, La. unaffected
BATON ROUGE - A spokesperson for J.C. Penney stores said Louisiana would not be affected by an announcement today that the department store chain would close 33 stores and cut 2,000 jobs.
The company said cutting the underperforming stores would save more than $65 million annually. The company will take $26 million in charges in the third quarter and $17 million afterward.
J.C. Penney is still working to recover from plummeting sales under former CEO Ron Johnson. They brought back former CEO Mike Ullman last April and said they were pleased with their holiday results, but declined to release sales figures.
The company said the closings would be complete by May of this year. Click here for a complete list of store closures.