The Ottumwa Courier

Ottumwa

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
Ottumwa
  • 0418 OTT Tree City U.S.A. logo Ottumwa awarded as Tree City U.S.A. again OTTUMWA — Having big, beautiful trees throughout a community can help spruce up a city and make it more attractive to visitors. Ottumwa has shown a dedication to making the community more green and inviting, and the efforts have been recognized by th

    April 17, 2014 1 Photo

  • 0418 OTT OEDC director -T Guiding our growth

    OTTUMWA — An organization designed to help Ottumwa grow has found a new employee in Indiana. The Ottumwa Economic Development Corporation (OEDC) board has chosen Sharon Stroh as the group's new executive director. “We are confident she will hit the g

    April 17, 2014 1 Photo

  • 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

  • City Council approves sale of properties OTTUMWA — On Tuesday the Ottumwa City Council met for the last regularly scheduled meeting of April. Included in the agenda for the evening were several dispositions of city owned property. Structures and land located at 519 W. Fourth St., 723 E. Mar

    April 15, 2014

  • Where to play OTTUMWA — The Ottumwa Community School District wants to discuss moving to another athletic conference. Superintendent Davis Eidahl revealed that the district has been contacted by a smaller sports league, which has extended an invitation to join the

    April 15, 2014

  • 0415 Right side up monster truck pic Nice driver --- mean machine OTTUMWA --- Drivers sat at one end of their vehicles during the "pit party," meeting fans and signing autographs before the motorsport and monster truck exhibition at Bridge View Center this weekend. Monster truck driver Orville Hill let kids --- and

    April 13, 2014 1 Photo

  • 0415 OTT Composting ethical pic Recycling in a garden OTTUMWA --- Parents will tell you: They hate to see kids waste food. A gardner named Scott Koepke feels the same way. “First, let’s get our food to people who are going to eat it,” he said. “It hurts me to see kids in the schools throw away an entire

    April 13, 2014 1 Photo

  • 0412 OTT Pothole color photo -T -M [Duplicate] A bumper crop of potholes OTTUMWA — The nice weather has been putting the bad roads on display. Officials say good: It gives us a chance to fix them. “Every city is going through the same thing,” said Larry Seals, Ottumwa Public Works director. “It has been an unusual winter

    April 11, 2014 1 Photo

  • Home in a tent OTTUMWA -- As people live without shelter, they become desperate finding a place to sleep. The situation impacts more than just the community's homeless. "There is nowhere to put people who are homeless," said Mary Margaret Butler. "Nowhere." Ottumwa

    April 11, 2014

  • 0412 OTT Martha Speaks color photo -T -M Ottumwa children visited by cartoon star OTTUMWA — Iowa Public Television is celebrating its 45-year anniversary this year by helping communities like Ottumwa educate young children before they get into a school setting. One of the programs they are using to help reach out to children is by

    April 11, 2014 1 Photo

Obituaries
Record
Facebook
AP National