05 Apr JCPenney To Close 27 Stores In 2019
JCPenney announced plans to close 27 stores this year. The closures include 18 full-time department stores and nine home and furniture shops.
The closures will include three previously announced department store closures. Nearly all of the impacted stores are expected to close during the second quarter of 2019. The retailer has 860 stores.
In February, the company reported that total net sales for fiscal 2018 decreased 7.1 percent, with a net loss of $255 million for the year. Comparable sales at JCPenney fell 4 percent in the fourth quarter of 2018, down a total 3.1 percent for the year.