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J.C. Penney shuttering up to 140 stores as sales weaken, more sluggish growth seen ahead

from CNBC

J.C. Penney finally lifted the lid on its plans to downsize its fleet, telling investors that it would close between 130 and 140 of its stores over the next few months. The retailer made its comments while reporting fiscal fourth-quarter earnings that topped Wall Street's expectations, though revenue and same-store sales fell shy of expectations. more


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