Posted on 01/15/2014 2:54:54 PM PST by Zakeet
The bad news continues at J.C. Penney.
The ailing retailer announced Wednesday that it was cutting 2,000 jobs and closing 33 "underperforming" stores in an effort to rein in expenses.
The store closings -- listed here -- are likely to be complete by early May. J.C. Penney said it expected the moves to generate $65 million in annual cost savings.
(Excerpt) Read more at money.cnn.com ...
I doubt it, unless libs make them illegal. Where I live, some malls are thriving, some are struggling, and some new ones are even being built. The fate of a mall often hinges on the fate of its flagship store or - more often - on the decline of the surrounding neighborhood
Mall where I live Crystal river fl. is dying a slow death Sears closed,JCpenny is closing,Bells is closed,Kmart is the only big store left, they are trying everthing to fill the empty spots but no one is coming lots of small shops open and close everymonth the whole mall will end up being a giant flea market shortly. And its a gun free zone.
“What is the story on this huge investment that Xanadu mall represented? Obama backwards prosperity at work or what?”
This mall may have been finished shortly before he was elected; I believe the retailers that had committed to it only agreed to use the minimum space they had pledged (they had a range), and it would have been half-empty. Disposable income fell quickly (the job losses in the financial sector, as well as the housing bubble, really hit this high-tax area hard), and after a few years the developers admitted the mall had been targeting wealthy foreign tourists to NYC (which had dried up).
???
Was the Mittwit on their board or something?
Never mind: Found it!
I checked the list, and they are keeping the store near me. A bit of a surprise, but we just lost our Sears store, and without both Sears and JCP, our mall won’t be much more than an empty shell.
bfl
ping.
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