JCPenney plans to close 18 full-line stores in the second quarter, including three locations previously announced in January, executives told analysts on an earnings call, recording an estimated pre-tax charge of about $15 million in the process.
Three years after launching the experiment to re-enter the categories, JCPenney is getting out of major appliances, home goods and furniture effective Feb. 28.
JC Penney reported a net loss of $101 million in the second quarter, more than double the 2017 Q2 loss of $48 million, while its comparable sales inched up 0.3%. Here is what JC Penney has planned for the first of 2018.