JCPenney will close 33 underperforming stores across the U.S. as part of a turnaround strategy.
Following leadership changes last week, JCP has announced plans to draw on its credit facility to fund upcoming improvements.
Current J.C. Penney cheif executive officer Ron Johnson has been replaced by Myron E. Ullman, who previously served as CEO of the company from 2004 to 2011.
©2016 UBM. All rights reserved. A UBM Company.