Retail News: JCPenney Closing Stores

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JCPenney stores across the US are closing.  JCPenney has announced the closure of  130-140 stores despite an uptick in earning for Q4 2017.   In a press release, JCPenney positioned the move as a way to advance growth and profitability. “We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers,” said Marvin R. Ellison, chairman and chief executive officer of JC Penney in the press release.

JCPenney brick and mortar stores are not going away, but it’s clear that JCP wants to beef up it’s online presence. For this retail watcher, JC Penney lost their mojo when they discontinued some of their most popular brands and then had to bring back a few after consumer outcry.  No word yet on the continuation of JCP brands like Eva Longoria Home and Nicole by Nicole Miller.

This is sad news for JCP employees although JCPenney promises they will receive separation benefits and some 6,000 employees will be eligible for the Voluntary Early Retirement Program (VERP)  according to  JCP’s press announcement.   Here’s wishing those employees well in finding other employment during these challenging times.

Look for clearance sales online and in stores as JCP stores close.



Since 2008, Mary Hall has been the author of The Recessionista Blog, which is read by thousands of regular readers in over 160 countries. An internationally recognized expert on the art of the living the good life for less, she has been a commentator on local, national, and international radio and TV shows. Her advice has been featured in over 2,000 media outlets, including The New York Times, Reuters, Life & Style magazine, ABC News, NBC News and now The Huffington Post, among many others.