Around the Net
JC Penney Continues Slump
- Advertising Age, Thursday, January 16, 2014 9:35 AM
JC Penney, which has been sinking, plans to close 33 stores and eliminate about 2,000 jobs to help save $65 million a year as CEO Mike Ullman tries to turn around the money-losing department-store chain. Ullman returned in April to replace Ron Johnson, the former Apple retail chief who was unable to turn JCP around.
