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Mike Ullman

Macy's, J.C. Penney Announce Store Closings Nationwide; None In Connecticut Listed

J.C. Penney Co., and Macy's announced Thursday they are closing more than 50 department stores nationwide, but none of the stores listed by the companies is in Connecticut. J.C. Penney said it would close about 40 stores this year and cut roughly 2,250 jobs as it tries to improve its profitability. Most of the stores, located in malls around the country, will close by April 4. The Plano, Texas, company currently runs about 1,060 stores. The announcement came two days after J.C. Penney reported a rise in sales during the critical holiday shopping season, an encouraging sign as the company tries to recover from a botched plan to reinvent itself under former CEO Ron Johnson. It has...