The Blistering Recovery Continues: Week After Macy’s, JCPenney Fires 2000, Closes 33 Stores
by Tyler Durden
ZeroHedge.com
01/15/2014
A week ago, Macy’s fired 2500 and announced the closure of five stores. Moments ago, the company which we have been warnings since late 2012 is a meltin ice cube that ends with bankruptcy, JCPenney, which a week ago provided the following glib summary “JCPenney reported today that the Company is pleased with its performance for the holiday period”, turns out was merely joking and just echoed the Macy’s sentiment, announcing the termination of some 2,000 jobs and the closure of 33 stores.
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