JC Penney Likely To Close 140 Stores

February 24, 2017 Facebook Twitter LinkedIn Google+ News

JC Penny Stores Hawaii

JC Penney announced Friday that they will close 140 stores and distribution centers to adjust to slight overall sale declines in 2016. The closures represent approximately 14% of the companies current store locations nationwide.

JC Penney Stores Hawaii

Like other department stores, J.C. Penney is trying to adjust to changing shopping patterns, and is joining other department stores like Macy’s, which are shrinking their store footprint. Consumers are shifting their spending away from clothing and toward experiences like beauty treatments or toward furnishing their home. And when they do pick up clothing, it’s more often at off-price stores or online as Amazon moves more into apparel.