138 JC Penney Doors to Close

 

J.C. Penney

The retailer today released the list of 138 locations that will be shuttered, starting April 17th.

The closures, which were previously announced on February 24th, are the retailer’s effort to focus on raising the level of a smaller group of stores. In addition to the stores, a supply chain facility in Lakeland, Florida, will close and another in Buena Park, California, will be relocated.

Approximately 5,000 employees will be affected by the closures, which span 41 states.

The stores account for about 13 percent of JC Penney’s locations and 5 percent of annual sales.

With the roughly $200 million in savings from the closed stores, the company plans to refresh the remaining stores, grow its beauty and home departments, which have been performing well, shore up its omnichannel offering and revitalize its women’s assortment.

As a part of this effort, the retailer recently announced that it would begin testing a home services programs in 100 stores in select markets to capitalize on homeowners’ desire to upgrade their properties. The company will offer services like heating and cooling, bathroom remodels and blind installations.

“There is a tremendous opportunity to capture additional revenue and minimize our dependence on apparel by catering our services to female homeowners who represent over 70 percent of our loyal customer base, and make the primary decisions regarding any home renovations,” said Marvin Ellison, chairman and chief executive officer of JC Penney.


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