JCPenney to shutter up to 140 stores

JCPenney store

JCPenney announced it would shutter between 130 and 140 stores and offer 6,000 workers buyouts. The struggling retailer, unable to compete with niche brands and online sellers, also laid plans to introduce new merchandise to meet the changing needs of its customers. The closures are a change for the steady store count over the last 15 years. The company had 1,021 stores in 2016, down from its all-time high of 1,108 in 2009. (USA Today)

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