FROM MORNING CALL
J.C. Penney Co. Inc. said Wednesday it will close 33 underperforming stores, including its Phillipsburg Mall location, and cut 2,000 jobs as part of its turnaround.
About 50 people work at the Phillipsburg Mall store, which straddles Lopatcong and Pohatcong townships and is expected to close in early May.
J.C. Penney, which operates about 1,100 mid-market department stores in the United States, suffered a 25 percent drop in sales in fiscal 2012 after a failed attempt to go upmarket.
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