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Why Is JCPenney Closing More Stores? JCPenney filed for bankruptcy back in 2020. Since then, about 240 of its stores have closed. Right now, there’s about 650 locations left in the U.S.
This article originally appeared on USA TODAY: JCPenney is closing 8 locations by mid-2025. See the list. Show comments. Advertisement. Advertisement. In Other News. Entertainment. Entertainment.
JCPenney isn’t the only major retailer that’s announced a handful of store closures. Last year. Big Lots announced it was closing more than 300 stores across the U.S.
JCPenney announced in February 2017 that it would close 138 stores in 2017. Liquidation sales began on May 22, and the stores closed by July 31. [ 168 ] Another 8 stores and a distribution center closed in 2018 while over 50 additional stores were expected to close between mid-2019 and late 2020.
That year, the company adopted the JCPenney style in advertising. [16] and its revenues reached $5 billion (equivalent to $37.6 billion in 2025) for the first time and catalog business made a profit for the first time. [17] JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments. [17]
Throughout the 21st century, retail businesses in Canada have felt the pressures of foreign store expansions into the country, as well as a shift towards online retail. As a result, closures have been a mix of stores unique to the nation, as well as newcomers like Target Canada.
The two companies both shared store closure announcements this week, with JCPenney expected to close a "handful" by mid-2025 and Joann to shutter roughly 500 locations. The retailers join other ...
JCPenney said Thursday it plans to spend more than $1 billion by the end of 2025 in a bid to revive the storied but troubled 121-year-old department store chain. The money is going toward ...