Find in the news:
BY COUNTRY

Macy’s and JC Penney set to cut thousands of jobs in the US



Two of America’s largest department store chains, Macy’s and JC Penney, have announced their plans to close stores, which will result in the loss of thousands of jobs.

Macy’s have announced that it would be closing 14 of its 790 stores over the next few months, resulting in the loss of more than 1300 jobs. It does however have plans to open two new stores.

JC Penney is set to close around 40 of its 1060 stores by the 4th of April, which will result in the loss of almost 2250 jobs.

These decisions come after both chains felt the effect of the growth in online shopping.

According to Macy’s, it is expecting a saving of $140m per annum due to its restructuring plan. The two new stores it intends opening will be based in California. The group announced that its same-store sales experienced a growth of 2.1% year-on-year, during November/December. During its closure program about one year ago, it shut down five stores, resulting in the loss of 2500 jobs.

The latest closure announcement by JC Penney comes almost exactly 12 months after its last restructuring plans when it closed 33 of its stores, resulting in a loss of around 2000 jobs. JC Penney announced earlier this week that its same-store sales for November/December 2014 increased by 3.7%, compared to the same period during the previous year. This resulted in a sharp increase in its share price.

Mike Ullman, the chief executive of JC Penney, is due to step down during August when Marvin Ellison, the former Home Depot boss, will step into his shoes.

Related shopping malls and stores:

More about shopping malls in the USA



TODAY, France:
Mango’s growth strategy also encompasses 15 new boutiques in Italy this year.
YESTERDAY, United Kingdom:
Miniso remains poised to expand its presence and consolidate its brand in the European retail landscape.
DAY BEFORE YESTERDAY, USA:
Lanvin has introduced its latest venture at South Coast Plaza.
Jun 14, 2024, USA:
Global superstar Rihanna unveiled her latest venture, Fenty Hair.
Jun 13, 2024:
The next European implementation will take place in Hamburg.
Jun 11, 2024, Mexico:
Luxury fashion house Balenciaga made its debut on Friday in Cancún.
Friend
and Follow
South Coast Plaza GLA:2 800 000 SF
ADDRESS: 3333 Bristol St, Costa Mesa, CA 92626
USA . Los Angeles
South Coast Plaza
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet
Woodfield Mall GLA:2 200 000 SF
ADDRESS: 5 Woodfield Mall, Schaumburg, IL 60173
USA . Schaumburg
Woodfield Mall
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us