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Ron Johnson
J.C. Penney to close 40 stores, but none so far in California
J.C. Penney to close 40 stores, but none so far in California

Beleaguered retailer J.C. Penney said Thursday it is closing about 40 stores as the chain seeks to turn around its fortunes. The Plano, Texas-based company said the stores, which represent about 4% of its 1,020 locations, will be closed "on or about" April 4. None of the stores listed so far is in California. "While it's never an easy decision to close stores ... this was made after a careful analysis of store performance and future strategic fit for the company," J.C. Penney said in a statement. The chain said it would try to help the 2,250 employees who will be affected by the closings to find jobs at other J.C. Penney stores. Those who can't find new...

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