The ICSC Blog

January 25, 2011
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J.C. Penney to close outlets, catalog division, six stores

Picture Source:  J.C. Penney Co. is to wind down its catalog and outlet operations, and close down underperforming stores, it announced today. The retailer also said it has taken on two new board members — activist investor William Ackman and Vornado Realty Trust Chairman Steven Roth. The chain said that over the course of…