Less than a month after announcing 138 doors would shutter, the retailer has seen an uptick in foot traffic. As a result, the department store chain has decided not to close the door on these eager customers just yet.
The renewed interest gives the company time to sell through its current stock before beginning liquidation sales.
“Ever since the company announced its store closure list, those stores have seen better-than-expected sales and traffic,” J.C. Penney spokesperson Daphne Avila told CNBC. “This is not an uncommon response when you announce a store closure. Local shoppers will come out for a variety of reasons—some out of nostalgia and some who are just looking for a great deal.”
When the stores close, the company will save $200 million, which it will use toward upgrading the remaining locations, re-merchandising its women’s assortment, augmenting the beauty offering and focusing on omnichannel. Approximately 5,000 employees will be affected in 41 states.
How Amazon may strip Whole Foods of its touchy-feely ethos—and why that's a good thing—had how cold brew proves you can teach old dogs new tricks.Read more
Loftex Home and GHCL sign CertainT licences, Hollander Sleep Products Buys Pacific Coast Feather and Oeko-Tex certifies Tuft & Needle.Read more
The National Retail Federation continues to lobby Congress with regards to the border adjustment tax, reiterating its claim that it would shift corporate tax savings to consumers.Read more
NRF announced new board members this week, while Topshop hired a new CEO and Macy's stepped up its off-price game with a new executive.Read more
Fashion can’t escape what’s happening in the world whether it wants to or not, and for the Autumn/Winter 2018-19 season, textiles will look to balance all that’s been upended.Read more
The Chittagong Port Authority has taken steps to alleviate the congestion situation at Bangladesh’s top port, but no comprehensive plan is in the works to fix what has been a long-term logistical problem.Read more
Looking to boost cotton quality and exports, Egypt’s Ministry of Trade and Industry has signed a cooperation protocol with United Nations Industrial Development Organization (UNIDO) and the Italian Development Cooperation.Read more