J.C. Penney Closing 140 Stores in 2017
Traditional mall anchor J.C. Penney announced today that it plans to close approximately 13 to 14 percent of its 1,000 stores, resulting in a downsizing of up to 140 locations in early 2017. Despite the closures, the company reported positively about net sales only declining 0.6 percent and store sales being flat overall for 2016.
“We are pleased that in the face of a very challenging 2016 retail environment we delivered our first positive net income since 2010,” said Chairman and CEO Marvin Ellison in a statement on Friday. “We also saw record online performance over the holiday season, and with our continued focus on improved site functionality, expanded and enhanced fulfillment and continued growth in our assortment, we know this will allow us to deliver significant growth in the digital business.”
No store closure list has been provided yet by the company. J.C. Penney currently operates two stores in Central Ohio, one at The Mall at Tuttle Crossing and another at Polaris Fashion Place.
In January, Macy’s announced that it is also closing two locations in Central Ohio sometime in March or April.
For more information, visit www.jcpenney.com.