The Decorah J.C. Penney store is among 138 stores across the country that will be closing, an announcement from the company today said.
Approximately 5,000 positions nationwide will be impacted by the store closures, most of which will occur in June. Affected stores will begin the liquidation process April 17.
“As part of a continuing effort to advance sustainable growth and long-term profitability, J. C. Penney Company, Inc. will be closing 138 stores, one supply chain facility in Lakeland, Fla., and relocating one supply chain facility in Buena Park, Calif., to align the Company’s physical store footprint and omnichannel network,” the company stated.
In February, J. C. Penney Company, Inc. announced it was implementing a plan to optimize its national retail operations as part of the company’s successful return to profitability. The announcement followed similar decisions from Macys and Sears.
“We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers. Maintaining a large store base gives us a competitive advantage in the evolving retail landscape since our physical stores are a destination for personalized beauty offerings, a broad array of special sizes, affordable private brands and quality home goods and services. It is essential to retain those locations that present the best expression of the JCPenney brand and function as a seamless extension of the omnichannel experience through online order fulfillment, same-day pick up, exchanges and returns,” J.C. Penney CEO Marvin Ellison said Friday.
“These strategic decisions will help align the company’s brick-and-mortar presence with its omnichannel network, thereby redirecting capital resources to invest in locations and initiatives that offer the greatest revenue potential,” the company stated.
For the complete story, see Tuesday’s Public Opinion.