Five stores in Georgia, but none in North Georgia, among the 138 locations J.C. Penney announced Friday it will shutter in the coming months as the retailer seeks to cut costs and improve its profitability.
The company said yesterday that liquidation sales at the stores being shut down would begin April 17 and the locations will be completely shut down in June.
It once shared a building with a grocery store that closed years ago.
Four stores are closing in Wisconsin.
J.C. Penney will be shutting down more 130 USA stores, including three in the Philadelphia region.
"We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers", Marvin R. Ellison, chairman and chief executive officers of JC Penny said in a February 24 statement. Teen clothing retailer Wet Seal also recently closed all its stores, including one at the Wyoming Valley Mall. In the statement, Ellison said the company is pleased with the double-digit growth of jcpenney.com.
Sales at Penney's stores which have been open for more than a year fell 0.7 percent in the fourth quarter which ended January 28, a bigger drop than the 0.5 percent decrease analysts predicted.
The move by J.C. Penney followed similar national store-closure announcements by Macy's and Sears in the past year.
She said PREIT's expectation was that the store would remain open. Eight will close in Minnesota and seven will be shut in both MI and Pennsylvania.
JCPenney will provide outplacement support services for eligible associates who will be leaving the company, according to the retailer.
Eligibility for the Voluntary Early Retirement Program will will generally include home office, stores and supply chain personnel will effect another 6,000 employees, the release stated.