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All Posts Tagged Tag: ‘store closings’

Family Dollar: Store Closings Signal End of An Era?

Once upon a time it was practically guaranteed that no matter what was happening with the economy, the 99¢ or $1 stores would not be affected. After all, if regular stores were too expensive for cash-strapped Americans, many would no doubt turn to stores like Family Dollar for cheap essentials. This belief was shattered by the news that Family Dollar …

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RadioShack: What Went Wrong For the Company?

RadioShack by its very name is a throwback to the 20th century, a time period fading further and further into the past as future generations look elsewhere for their high-tech gizmos. That may be at the heart of why the store fell off the radar of so many adults. Heck, the common reaction seems to be, “RadioShack? What, they’re still …

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JCPenney Closing 33 Under-performing Stores In Spring

The start of 2014 has not been a good one for various big-named retail stores. For example, Target encountered various issues with their credit card information debacle. Now, popular clothing and home-goods department store JCPenney recently announced that they will be closing various locations of its stores around the United States. According to CoStar.com, the popular chain JCPenney announced that …

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Penney Store Closings of 33 Locations Will Cut 2,000 Jobs

On Wednesday, January 15th, J.C. Penney Co. announced the shutdown of 33 stores mainly located in smaller markets that have been experiencing a continual decline in customer visits. According to Chief Executive Mike Ullman, the clothing company chain has experienced a drastic fall in sales and the closing of selective locations will help to improve the performance of the company’s stores. …

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Penney Store Closings And Job Cuts To Save Company $65 Million

This past Wednesday, J.C. Penney announced it would be closing down 33 stores throughout the nation and cutting 2,000 jobs. The changes are part of an effort to save nearly $65 million each year. J.C. Penney Ceo, Myron Ullman III, stated recently, “As we continue to progress toward long-term profitable growth, it is necessary to re-examine the financial performance of …

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Target Now Says 70 Million Customers Had Personal Info Stolen, Announces Store Closings

It turns out that the much-publicized data breach that Target announced last month is way bigger than previously revealed. Target announced in December that 40 million credit and debit card accounts had been impacted between November 27th and December 15th. Hackers reportedly gained access to card numbers, expiration dates and security codes. On Friday, Target announced that up to 70 …

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Best Buy CEO Resigns, Interim CEO Named

Best Buy CEO Brian Dunn, seen above shaking hands with Black Friday shoppers, has resigned from his position. The Best Buy Co., Inc. board of directors announced today that Dunn would be stepping down, saying there were no disagreements between Dunn and the board on any matter relating to operations, financial controls, policies, or procedures. Evidently, there was agreement between …

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Best Buy Closing 50 U.S. Stores, Stock Drops

It has been reported that Best Buy plans to close 50 big-box U.S. stores by 2013, causing its stock to take a hit. Still, the company says it seeks to open 50 stores in China, after reporting its quarterly results. Best Buy shares dropped 8% after the announcement of the closings, regardless of reporting better than expected earnings. Analysts at …

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