Penney, with new CEO Jill Soltau at the helm, is expected to have to shut more stores to get its business in healthier shape.
div > div.group > p:first-child"> Here's what analysts are expecting, based on Refinitiv data:
Since joining the department store chain, Soltau has already made decisions to shut Penney stores and get out of the appliance business, a category her predecessor, Marvin Ellison, had invested heavily in. It's inevitable Penney will also be forced to shut more stores, as many analysts say the company still has too much real estate to keep up with today. The department store chain currently operates more than 860 locations across the U.S. Penney is expected to share more details around its real estate strategy on Thursday.
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