Jcpenney’s second wave of stores closures announced

JCPenney announced on June 4 that 154 stores will be closed. Now, the company will close an additional 13 stores and noted that this is part of their “store optimization strategy”. Management indicated that there will even be a third round of closures in the coming weeks. The total number of stores JCPenney will close has not been announced, but I suspect that it could be a couple of hundred stores that will get the ax. Management indicated that the final tally will reflect a company decision to concentrate on its best stores and e-commerce business. Read more at Forbes.