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J.C. Penney to close 33 stores by May
Dallas -- J. C. Penney Company announced that as part of its turnaround efforts it will close 33 underperforming stores across the country. The shutterings, which will result in the elimination of about 2,000 positions, are expected to result in an annual cost savings of approximately $65 million, beginning in 2014.
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Moe’s Southwest Grill enters California market
Atlanta — Moe’s Southwest Grill has signed a deal to bring 18 new restaurants to Sacramento and Santa Cruz over the next seven years. This is the franchiser’s first push into California.
HKM II is the franchise group behind the California expansion. HKM II owns 42 quick-serve burger restaurants throughout Northern California, Southern Nevada and Arizona.