Retail News

Penney cutting jobs after posting annual loss

USA Today 03/02/2018

J.C. Penney announced that it is eliminating roughly 360 positions at its corporate headquarters and regional offices after it reported a loss for the year. The company, which saw improvement during the fourth quarter with a same-store sales increase of 2.6 percent, closed 138 stores last year in an effort to cut costs.

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