J.C. Penney (JCP) unveils a restructuring program to close six underperforming stores, and wind...

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

J.C. Penney (JCP) unveils a restructuring program to close six underperforming stores, and wind down its catalog business. The moves will lift earnings by $0.07/share in the first full year of implementation, but result in charges of $0.08/share in FQ4 2010 and $0.05/share in 2011.