JC Penney to Put Off Closing Stores — CNBC

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By Douglas A. McIntyre Updated Published
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JC Penney to Put Off Closing Stores — CNBC

© courtesy of J.C. Penney Co. Inc.

J.C. Penney Co. Inc. (NYSE: JCP) told CNBC iit will put off closing some of the 138 stores it said it would shutter. Originally, the locations were to close starting April 17. That has been pushed to May 22. It is not clear whether some of the stores will eventually be kept open.

According to CNBC:

 “Ever since the company announced its store closure list, those stores have seen better-than-expected sales and traffic,” J.C. Penney spokeswoman Daphne Avila said.

“This is not an uncommon response when you announce a store closure. Local shoppers will come out for a variety of reasons — some out of nostalgia and some who are just looking for a great deal.”

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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