Penney moderates 2008 growth plans amid economic concerns (AP)

As many as 250 new jobs could be coming to northern Bucks County when Wal-Mart completes a planned expansion of its Hilltown Township store, the store?s manager said.

The department store giant wants to convert its building at Hilltown Crossings Shopping Center on Route 309 into one of its Supercenters, complete with grocery aisles that would fill a void left when the Clemens supermarket at the property closed late last year.


-

The chairman and chief executive of J.C. Penney Co. said late Tuesday that the department store chain is stretching out its five-year store growth strategy because of the economic downturn, with plans to open 36 new stores this year instead of the 50 it had projected. Continue …

Reacting to the economic slowdown, JC. Penney Co. will open fewer new stores this year than originally planned while stepping up its efforts to attract frugal shoppers away from rivals with new brands and marketing pitches. Continue …

Shares of Macy’s are falling in pre-market trading after a JPMorgan analyst downgraded the department store chain, saying current profit estimates are too high. Continue …