In an effort to "focus on its highest potential growth opportunities by reducing investment in areas of the business that no longer contribute meaningfully to its financial performance," JCPenney is shutting down its catalog business.
In addition to the loss of the catalog sales, the move means the shuttering of 19 catalog outlet stores, as well as two call centers.
"It is always difficult to make decisions that impact our associates, and we are committed to treating them fairly. As we continue to position our company for the future, we determined that these steps are necessary to capitalize on the growth opportunities we see ahead while we ensure we are managing costs appropriately and continually enhancing the profitability of our operations," said Mike Ullman, III, chairman and chief executive officer, JCPenney, in a press release.
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JCPenney shutting down catalog operations
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