NEW YORK — J.C. Penney is closing more stores after a weak holiday sales season.
Fourth-quarter income tumbled nearly 70 percent and revenue slid 8 percent. It did beat Wall Street expectations, and shares jumped 18 percent before the opening bell Thursday.
The Plano, Texas-based company said it would close 27 stores this year, including three locations previously announced in January. The closures include 18 full-line stores and nine home and furniture shops.
A specific list of stores has not yet been released.
