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J.C. Penney’s New Chief Lays Out First Round of Store Closures

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J. C. Penney Co. said it will close three stores this spring and may announce more next month as new Chief Executive Officer Jill Soltau embarks on a broad evaluation of its footprint. The announcement briefly sent shares soaring in late trading. J.C. Penney also reaffirmed its earlier guidance that it will generate free cash…

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