Retail News: J.C. Penney Company Inc (NYSE: JCP) - Presented by: The Aol. On Network

J.C. Penney Company, Inc. (NYSE: JCP) shares edged down 0.57 percent to $6.97 in after-hours trading on Wednesday following the retailer announced it plans to cut 2,000 jobs and close 33 stores. “These actions are expected to result in an annual cost savings of approximately $65 million, beginning in 2014,” the retailer said it a statement on Wednesday. “In connection with this initiative, the Company expects to incur estimated pre-tax charges of approximately $26 million in the fourth quarter



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