The Ottumwa Courier

Southeast Iowa

January 15, 2014

Ottumwa's J.C. Penney store will remain open

OTTUMWA — Local J.C. Penney shoppers can breathe a sigh of relief. Ottumwa is not among the 33 targeted stores the retail department store plans to close.

J.C. Penney Company is planning to close 33 underperforming stores and trim 2,000 positions, moves the department store retailer said are necessary so it can focus on locations that generate the strongest profits. The only store in Iowa that will close is in Muscatine at the Muscatine Mall.

Penney on Wednesday said the move to close 33 stores from its base of about 1,100 locations will result in annual savings of about $65 million beginning this year. The closings will result in the elimination of about 2,000 positions, and eligible associates who don't remain with the company will receive separation benefits packages.

The company expects to incur pretax charges of about $26 million in the fiscal fourth quarter and an additional $17 million in future periods due to the store closures.

"As we continue to progress toward long-term profitable growth, it is necessary to re-examine the financial performance of our store portfolio and adjust our national footprint accordingly," said Chief Executive Mike Ullman III.

A Penney spokeswoman said the decision followed an analysis of store performance at the close of the year, adding that such reviews are commonly done by retailers around this time.

Penney said remaining inventory at the affected stores will be sold "over the next several months," with final closings to be complete by early May. The store closures don't affect a plan by the company to open a new store later this year in Brooklyn, N.Y.

1
Text Only
Southeast Iowa
  • New boilers cost district $380,000 The summer boiler replacement projects will be getting underway after the Centerville School Board approved a $380,801 bid from Capital City Boiler and Machine Works out of Des Moines during their April 14 meeting. Six bids were received and the boar

    April 18, 2014

  • Troy Rider.jpg Judge grants motion on witness comments

    Judge John Lloyd has granted a motion, filed by Troy Neil Rider's defense, to limit extrajudicial comment by witnesses regarding the sexual abuse case against Rider. 

    April 18, 2014 1 Photo

  • DOT photo Public learns latest about Northwest Bypass at DOT meeting

    OSKALOOSA -- Many area residents learned the latest about the U.S. 63 Northwest Bypass of Oskaloosa at a public information meeting held Wednesday evening at Oskaloosa Middle School. The two-hour meeting featured tables with maps of the three propose

    April 18, 2014 1 Photo

  • Consumer spending on health care jumps as Affordable Care Act takes hold

    Nancy Beigel has known since September that she would need hernia surgery. She couldn't afford it on her $11,000 yearly income until she became eligible for Medicaid in January through President Barack Obama's signature health care law.

    April 18, 2014

  • 0418 OTT Five Things logo -T -L -M Five things to do in southeast Iowa this weekend OTTUMWA — It's a weekend of Easter celebrations, historic events and educational opportunities in southeast Iowa. Many people are gathered together this weekend, and the surrounding communities have scheduled events perfect for the whole family. 1. S

    April 17, 2014 1 Photo

  • 0417 OTT Saving Center color photo -T -L -M Hedrick building has friends HEDRICK — The community wants a civic center, and they've been willing to work for it. "I'd say we have 15 to 25 volunteers each time," Tommy Smith of Hedrick said. "These are all good people." Smith was volunteering his services at the Easter Brunch

    April 16, 2014 1 Photo

  • Southern Iowa farmers preparing for planting OTTUMWA — Even though the winter seemed to linger like Iowa was going through an ice age and cold and wet weather has highlighted the early spring, farmers are starting to get out to their fields to put down fertilizer and get fields ready for planti

    April 16, 2014

  • 0417 OTT Camp Wapello fence photo -T -M -L Good fence irritates good neighbor DRAKESVILLE — For 82 years, Camp Wapello’s iconic entryway has welcomed people to peacefully coexist with nature. Now there’s a 400-foot barbed wire fence down the middle of the road. In February, Davis County Supervisors approved vacating of portion

    April 16, 2014 1 Photo

  • Van Buren supervisors deny hog confinement permit application KEOSAUQUA — A proposed swine building in Chequest Township didn’t receive a seal of approval from Van Buren County Board of Supervisors. Supervisors voted Monday to recommend to the Department of Natural Resources (DNR) to deny the permit. Supervisor

    April 16, 2014

  • raceway concept drawing.jpg Raceway Rebate passes the House

    Rep. Greg Heartsill reports that the bill to provide up to $2 million in sales tax rebates to the Knoxville Raceway has passed out of the Iowa House of Representatives, 78-15. 

    April 16, 2014 1 Photo

Obituaries
Record
Facebook
AP National