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16 Large Retailers Besides J.C. Penney Are Closing Waves of Stores
Business
The Street
7 hours ago

16 Large Retailers Besides J.C. Penney Are Closing Waves of Stores

The Great Restructuring in retail continues.  In the wake of a disappointing holiday season, J.C. Penney (JCP) said recently that it will close 138 stores stores by the second quarter. The store closures represent 13% to 14% of the company's current store base and less than 5% of annual sales. They have a negligible impact on net income. J.C. Penney said same-store sales at the locations were "significantly below" the remaining store base and operate at a much higher expense rate due to poor productivity. The company expects $200 million in annual costs savings from the efforts. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat
Five Below: Fiscal 4Q Earnings Come Out On Top
Barrons
Here's the One Disturbing Sign That Shows Wall Street Is Banking on More Bad Things for J.C. Penney
Here's the One Disturbing Sign That Shows Wall Street Is Banking on More Bad Things for J.C. Penney
The Street
The four most depressing reasons why Americans are not saving any money
News
MarketWatch
yesterday

The four most depressing reasons why Americans are not saving any money

This year, Americans say they’re ready to make their savings accounts great again. Whether they actually will is another story. About 21% of working Americans aren’t saving any of their income, which remains unchanged from the answer consumers gave the survey in 2016, a survey released this week by personal finance site Bankrate.com concluded. And just 25% are saving more than 10% of their incomes, down from 28% in 2016. The Bankrate survey was conducted by Princeton Survey Research Associates from a nationally representative sample of more than 1,000 people. What are the biggest reasons Americans aren’t saving more money? The No. 1 answer: 38% said they had too many expenses, some of which may
15 Big Losers From When Sears Eventually Dies
Business
The Street
yesterday

15 Big Losers From When Sears Eventually Dies

Kudos to Sears Holdings Corp. (SHLD) for finally admitting what everyone already knew: it's almost dead. As TheStreet broke the news on Twitter Tuesday evening, Sears indicated in its newly filed annual report that "substantial doubt exists related to the company's ability to continue as a going concern."  Sears' cash position has melted from a high point of $1.7 billion for the 2009 calendar year to a mere $286 million to close out 2016. Revenue hasn't grown since the credit boom lifted all ships in retail in 2006. The company hasn't generated cash flow from its operations since 2006. "With negative news like this, it's never good for confidence on the company," Moody's VP Christina Boni toldSears Filing Sparks Concern That the End Is Near
Sears Filing Sparks Concern That the End Is Near
Bloomberg
Sears' plan to sell brands no salve for financial woes
Sears' plan to sell brands no salve for financial woes
Reuters
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