US Apparel Company J.C.Pennyco Plans To Close Many Stores
Famous American
Clothing department store J.C.PennyCo
Plan.
Close
6 department stores, 19 hypermarkets, 1 furniture stores and 2 customer service centers completed the end of the catalogue mail order business.
The company will introduce two very strong shareholders to the board of directors, including WilliamAckman and SteveRoth, a very active investor.
J.C.Penny, headquartered in Plano, Dezhou, said that the pformation of the company was aimed at increasing customer profitability by adapting to the trend of customer pformation to online shopping.
The catalogue mail order business has been announced as early as November 2009. It will no longer print the two annual Catalogue of department stores.
MyronE.UllmanIII, chairman and chief executive officer, admitted in the video conference that the company started to mail the mail order business from directory to Internet two years ago. He thought it was the customer who gave up the catalogue mail order rather than the J.C.Penny company.
The future operation of J.C.Penny will face the pressure from the two new directors, one representing Ackman 'sPershingSquareManagement company and the other representing VornadoRealtyTrust company.
According to the report, there are about 1100 J.C.Penny department stores, and 6 department stores that will be closed are not in Dezhou.
As for the number of staff to be cut due to the new operation policy, it has not been disclosed.
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