BusinessThe Street•16 hours ago22 Large Retailers Besides J.C. Penney Are Closing Waves of Stores
The Great Restructuring in retail continues. In the wake of a disappointing holiday season, J.C. Penney (JCP) said recently that it will close 138 stores stores by the end of the summer. The store closures represent 13% to 14% of the company's current store base and less than 5% of annual sales. They have a negligible impact on net income. J.C. Penney said same-store sales at the locations were "significantly below" the remaining store base and operate at a much higher expense rate due to poor productivity. The company expects $200 million in annual costs savings from the efforts. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing
- BusinessCNBC•15 hours ago
Married couples have 81 ways to claim Social Security. Here's how to maximize your benefits
Marriage can make life easier, but not when it comes to Social Security. A single person only has to consider nine different scenarios when claiming retirement benefits. For married couples, the available options for filing strategies grow to 81.
- PoliticsMarketWatch•yesterday
Stock market bracing for potentially the most explosive stretch of trading this year
The stock market could face its most turbulent week of trading so far this year, with a trio of potentially destabilizing events on deck: former FBI director James Comey’s testimony, the U.K. election, and the ECB monetary-policy meeting. The trifecta, coming nearly all simultaneously on June 8, threaten to derail U.S. equities’ record-setting run. “The hurricane season is forecast to start earlier than normal this year for the Trump administration as a perfect storm of events is converging,” said Chris Zaccarelli, chief investment officer at Cornerstone Financial Partners. Comey, who was fired by President Trump early last month, on Thursday will testify before the Senate Intelligence Committee on Russia’s role in the U.S. presidential election as well as whether he was pressured to drop a probe on possible collusion between Trump’s campaign and Russian officials.
