[1/14/17] It’s starting to look like J.C. Penney (JCP) will be the next department store chain to put its physical footprint under the shrink ray.
Just one week after Macy’s (NYSE:M) and Sears (SHLD) detailed the upcoming closures of a combined 218 stores ,
Cowen and Company analyst Oliver Chen said that Penney’s could
ultimately chop its count by some 30 percent. Such a move would leave
the chain with roughly 700 locations, and free up cash to invest in its
best stores.
