JCPenney Lists 138 Closing Stores

JCPenney Lists 138 Closing Stores

JCPenney will be closing a total of 900 stores nationwide, on Friday they listed 138 locations that will close their doors in the coming months to cut costs and improve its profitability.

JCPenney Co. sales are declining like other department stores, as more people shop online instead of heading to the mall.

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The closures are part of the company’s previously announced plans to focus on its best-performing stores.

About 5,000 jobs will be cut due to the closures, JCPenney said. The company had about 105,000 full and part-time employees last year.

Nine stores will close in Texas, the most of any state. Eight will close in Minnesota and seven will be shut in both Michigan and Pennsylvania.

Liquidation sales at the 138 stores will start next month, and most of the stores will be shut by mid-June, the company said.

The closings will leave JCPenney with a total of about 900 stores.

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