Local J.C. Penney Store To Remain Open
July 28, 2016 at 4:25 p.m.
The J.C. Penney store in Warsaw escaped the axe swung by corporate headquarters when the latter announced four store closings in Indiana yesterday.
The retail giant plans to close 47 stores across the country, cutting about 5,500 jobs or 2 percent of its work force.
Ken Ashpole, manager of the Market Square Shopping Center outlet and catalogue center, said no nearby metropolitan-area stores will close either.
"We've had good support from the community in the past and look forward to serving the Kosciusko County area for years to come," he said.
Ashpole has been manager of the local department store for the last seven years, in charge for about half of its 13-year history in Warsaw. The catalogue desk opened in 1976.
Penney, headquartered in Plano, Texas, has been in a years-long slide amid tough competition from discounters and trendier retailers. Analysts blamed the company's prior management for failing to respond to changes in consumer tastes.
In the third quarter of last year, Penney suffered $23 million in operating losses and officials have said the holiday season was marred by disappointing sales.
The closings will eliminate 5,000 store jobs and 300 jobs in headquarters and field offices. Penney officials said an undisclosed number of store employees could be offered other jobs.
Job loss will not be a problem for the local store, which employs anywhere from 30 to 40 full- and part-time employees.
"We appreciate our customers," Ashpole said, "and look forward to the coming changes. They can only strengthen our relationship with the community."
The Warsaw store is considered a small store size-wise.
The company has more store space, with 118 million square feet, than any U.S. department store firm. The majority of the space is in premier shopping malls.
In the third quarter of last year, Penney suffered $23 million in operating losses and officials have said the holiday season was marred by disappointing sales.
Chairman and chief executive officer Allen Questrom, who took over at Penney in September, said the company remains strong in a recent press release. He called the restructuring 'an important step in our plan to improve future performance.'
Penney issued a list of 39 of the 47 stores to be closed, saying the others would be identified later this year.
On the Net: www.jcpenney.com [[In-content Ad]]
Latest News
E-Editions
The J.C. Penney store in Warsaw escaped the axe swung by corporate headquarters when the latter announced four store closings in Indiana yesterday.
The retail giant plans to close 47 stores across the country, cutting about 5,500 jobs or 2 percent of its work force.
Ken Ashpole, manager of the Market Square Shopping Center outlet and catalogue center, said no nearby metropolitan-area stores will close either.
"We've had good support from the community in the past and look forward to serving the Kosciusko County area for years to come," he said.
Ashpole has been manager of the local department store for the last seven years, in charge for about half of its 13-year history in Warsaw. The catalogue desk opened in 1976.
Penney, headquartered in Plano, Texas, has been in a years-long slide amid tough competition from discounters and trendier retailers. Analysts blamed the company's prior management for failing to respond to changes in consumer tastes.
In the third quarter of last year, Penney suffered $23 million in operating losses and officials have said the holiday season was marred by disappointing sales.
The closings will eliminate 5,000 store jobs and 300 jobs in headquarters and field offices. Penney officials said an undisclosed number of store employees could be offered other jobs.
Job loss will not be a problem for the local store, which employs anywhere from 30 to 40 full- and part-time employees.
"We appreciate our customers," Ashpole said, "and look forward to the coming changes. They can only strengthen our relationship with the community."
The Warsaw store is considered a small store size-wise.
The company has more store space, with 118 million square feet, than any U.S. department store firm. The majority of the space is in premier shopping malls.
In the third quarter of last year, Penney suffered $23 million in operating losses and officials have said the holiday season was marred by disappointing sales.
Chairman and chief executive officer Allen Questrom, who took over at Penney in September, said the company remains strong in a recent press release. He called the restructuring 'an important step in our plan to improve future performance.'
Penney issued a list of 39 of the 47 stores to be closed, saying the others would be identified later this year.
On the Net: www.jcpenney.com [[In-content Ad]]