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In early 2001, JCPenney closed 44 under-performing stores. In 2001, JCPenney sold its direct-marketing insurance unit to Dutch insurer Aegon for $1.3 billion (equivalent to $2.24 billion in 2025) in cash to help refocus the company on retail. [30] In 2003, the company opened three stores in strip centers in Texas, Minnesota, and Indiana.
The department store may close up to roughly 300 of its more than 1,000 locations within the next two years, according to Cowen & Co.
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In February 2018, Barnes & Noble permanently laid off 1,800 full time employees at an annual cost savings of $40 million per year. [54] According to TechCrunch , the company essentially fired their entire full time staff at all their stores, who would be making an average of $22,000 per year (~$11 per hour), and were replaced by part time ...
OfficeMax is an American office supplies retailer founded in 1988. As an independent chain, it was the third-largest office supply retailer in the United States. Following a 2013 merger, it is currently a brand and subsidiary of Office Depot.
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