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Victoria's Secret announced a closure of 333 stores: 30 in 2018, 53 in 2019, and 250 in 2020, up from the previous average of 15 per year. [327] These combined closures amount to about 29% of the brand's stores. The parent company divested itself of La Senza in January 2019, which was further affected [broken anchor] by the retail apocalypse. [328]
Exterior of the JCPenney store at the Richland Mall in Ontario, Ohio (2008) In early 2001, JCPenney closed 44 under-performing stores. In 2001, JCPenney sold its direct-marketing insurance unit to Dutch insurer Aegon for $1.3 billion (equivalent to $2.24 billion in 2025) in cash to help refocus the company on retail. [30]
The department store may close up to roughly 300 of its more than 1,000 locations within the next two years, according to Cowen & Co. JCPenney could close up to 30 percent of its stores Skip to ...
In order to accomplish this, the remaining stores in the mall were closed one a time as were two of its anchor stores, Old Navy and Loehmann's. The TGI Friday's restaurant that was located in the mall was replaced by a freestanding location in the parking lot, and the remaining two anchors (JCPenney and Fortunoff) sealed off their mall entrances.
On March 16, 2020, it was reported that retail sales dropped 20.5% after the pandemic hit the country, a percentage that, according to Business Insider, was unseen since the financial crisis of 2007–2008. [82] Retail sales continued to decrease with a 2.8% decline in May 2020 and 1.8% in June from where they were at the same time in 2019. [83]
The construction of the mall was announced in September 1960, and was to be built in two phases. The first phase would be approximately 400,000 sq. ft. and include Sears, JCPenney, and an additional 30 stores. The second phase would include Dayton's and 25 more stores. [8] Like Southdale, Brookdale was to be fully enclosed and air conditioned.
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