J.C. Penney Inc. said it expects sales in its struggling catalog business to be down 15% in March.
The Plano, Texas-based retailer cut 2,000 jobs from the catalog division in January in a move the company hopes will save it $30 million this year.
The job cuts are part of a turnaround plan that includes reducing reliance on the catalog to balance sales among the catalog, Internet and stores.
Penney also said it expected March sales at department stores open at least a year to be unchanged to slightly down. Sales at the company