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JCPenney announces store closings

Plano, Texas - JCPenney expects to generate annual savings of roughly $65 million from more than two dozen store closings to be completed by May.
The company said this afternoon it will shutter 33 of its 1,100 stores and eliminate some 2,000 positions.
The closings will take place in 20 states, in most involving only one or two units. Wisconsin will lose the greatest number of stores, with five on the chopping block.


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