Seeking Alpha

J.C. Penney to exit pricey SoHo building

  • J.C. Penney (JCP) has worked out an arrangement to rid itself of a pricey office building in the SoHo neighborhood of New York City, according to the New York Post.
  • The warehouse and retail space, which was a pet project of former CEO Ron Johnson, was piling up some serious renovation costs.
  • The decision to exit the trendy building falls in line with current management's back-to-the-basics principals.
Comments (1)
  • vcccd
    , contributor
    Comments (25) | Send Message
     
    Good move that goes directly to the bottom line in upcoming Qs
    12 May, 12:39 PM Reply Like
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