JC Penney and Macy's to chop hundreds of US jobs

popJC Penney has seen two retailer closure programmes in 13 months.

Two main US division retailer chains, JC Penney and Macy’s, have introduced plans to shut shops and lower hundreds of jobs.

JC Penney stated it could shut about 40 of its 1,060 shops by four April, with the lack of some 2,250 jobs.

Macy’s stated it could shut 14 of its 790 shops within the subsequent few months, chopping greater than 1,300 posts, though it additionally plans to open two new shops.

Each chains have been hit by the expansion in on-line buying.

JC Penney’s newest closure plans come nearly precisely a yr after the announcement of its earlier restructuring, during which it closed 33 shops and lower about 2,000 jobs.

Its chief govt on the time, Mike Ullman, is to step down in August and will likely be changed by former House Depot boss Marvin Ellison.

Earlier this week, JC Penney stated its same-store gross sales for the final two months of 2014 have been up 3.7% on the identical interval a yr earlier, inflicting its shares to rise sharply.

For its half, Macy’s stated it anticipated to avoid wasting $140m (£93m) a yr due to its restructuring plan. Its two new shops can be in California, the corporate stated.

It added that its November-December same-store gross sales have been up 2.1% year-on-year.

Macy’s additionally introduced its earlier closure programme a yr in the past. In 2014, it lower 2,500 jobs and shut 5 shops.

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