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See If Your Hometown JC Penney Is Closing

jcpenney
jcpenney

Reuters J.C. Penney Co. will close 40 stores over the next year, the company announced Thursday.

The closures represent nearly 4% of J.C. Penney's 1,060 stores.

"As with most retailers, we continually evaluate our store portfolio to determine whether there's a need to close or relocate underperforming stores," company spokesman Joey Thomas told Masslive.com. "Reviews such as these are essential in meeting our long-term goals for future company growth. While it's never an easy decision to close stores, especially due to the impact on our valued associates and customers, we feel this is a necessary business decision."

The company's stock was down 2% early Thursday.

Here's a list of the stores that are closing:

JCPenney
JCPenney

J.C. Penney

Belus Capital Advisors analyst Brian Sozzi says he expects more retailers to announce store closures in the coming weeks, including Macy's, Abercrombie, Aeropostale, Target, and Wal-Mart.

"You will hear more, big-time store closure announcements within the next month," he wrote in an email.


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