JCPenney makes $40 million expansion amid closures across four states as CEO says retailer is making ‘every day count’ ...Middle East

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JCPENNEY has confirmed a significant expansion to its operations after announcing closures in four states. The mall retailer has been attempting to recover from financial woes since the 2010s. GettyJCPenney has invested $40 million into a massive distribution center[/caption] With the growing popularity of eCommerce options and online ordering through giants like Amazon, some brick-and-mortar stores began taking hits. JCPenney was one of them — and after the devastating blow to in-person shopping dealt by the coronavirus pandemic, it filed for bankruptcy in May 2020. Around 175 store closings followed while two companies — Brookfield Asset Management and Simon Property Group —

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Last updated : 23 June 2024 clock 02:16 AM

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