JC Penney to close 8 stores in 2018. Here’s where they are

JC Penney to close 8 stores in 2018. Here’s where they are


J.C. Penney is anticipating closing eight of its department stores across the U.S. this year, a spokesman told CNBC.

It’s part of the company’s ongoing plan to right-size Penney’s store fleet as more sales move online. Penney operates roughly 875 department stores today. That’s after the retailer shuttered nearly 140 stores throughout 2017.

Earlier this week, the retailer said it would also close one of its fulfillment centers in Wisconsin this summer, eliminating more than 600 jobs as a result.

The eight store closures are estimated to result in about 480 job cuts, the company said, and operations at those locations should be completely winded down by May.

Here are the cities where Penney is closing stores:

St. Louis, MO
Paramus, NJ
Galesburg, IL
Alexandria, MN
Bartlesville, OK
Burlington, WA
Calexico, CA
Mt. Vernon, OH

“We continually evaluate our store portfolio to ensure our locations offer the best expression of the JC Penney brand and can function as a seamless extension of our omnichannel experience,” a spokesman told CNBC. “During this review, the decision was made to close eight stores across the country.”

Meanwhile, Penney is betting big on its beauty department and is pouring resources into beefing up make-up and hair services. Earlier this week, the company announced it would be hiring 6,500 stylists for its hair salons across the country, which are branded as “The Salon by InStyle.”

Penney is set to report fourth-quarter earnings on March 2, when it will share more details on these initiatives and any impacts from new U.S. tax legislation.



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