Penney is only closing stores
Penney is only closing stores that noticeably underperformed. The company’s sales have fallen sharply since Ron Johnson, previously Apple’s retail chief, took over as CEO nearly three years ago, and continue to have fallen since he was ousted by the board last year. But the company continues to make major investments in its conventional brick and mortar operations, and has only announced the closing of 33 out of more than 1,000 stores..
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