J C Penney Company Inc (NYSE:JCP) has decided to close its ten Foundry Big & Tall Supply Co. outlets, as well as its e-commerce platform, in its aggressive attempts to curtail costs and enhance profitability.
Wall Street has become nostalgic recently, with JCP joining the likes of AOL, Inc. (AOL) and Boston Scientific Corporation (BSX) on the daily leaderboards. JCP stock catapulted more than 20% higher today after posting stronger-than-expected holiday sales.
CLEVELAND, Ohio -- Days after reporting that its holiday sales had risen 3.7 percent, J.C. Penney Co. Inc. said it will close 40 under-performing stores in 2015, including three Ohio stores -- none of which are in Cleveland or Akron.
Judging by the fact that J C Penney Company Inc's (NYSE:JCP) stock price appreciated more than 27% over the past week, many bulls and investors probably believe the encouraging holiday sales data reported by the retailer would be sufficient to indicate ...