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The List of All 138 Stores JC Penney Is Closing

Douglas A. McIntyre

J.C. Penney Co. Inc. (JCP) announced the 138 stores it would close today. Earlier this year, J.C. Penney said it would close 130 to 140 locations because of flagging sales. Revenue in the final quarter of last year, which ended January 28, was $3.9 billion, flat with the same quarter in the previous year. However, J.C. Penney forecast same-store sales would drop as much as 2% this year.

As part of the announcement, the retailer said it would offer early retirement to 6,000 people.Marvin R. Ellison, chairman and chief executive officer of J.C. Penney said,

“We understand that closing stores will impact the lives of many hard working associates, which is why we have decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates. By coordinating the timing of these two events, we can expect to see a net increase in hiring as the number of full-time associates expected to take advantage of the early retirement incentive will far exceed the number of full-time positions affected by the store closures."

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J.C. Penney management also disclosed the basis on which the locations were chosen. The 138 stores are 13% to 14% of the company's store portfolio, but under 5% of total sales and"0%" of net income.

The state hardest hit by the action is Penney's home state of Texas where nine stores will be shuttered. Other states widely affected include Michigan (7), Minnesota (8), and Illinois (7). Four stores will be closed in South Dakota which has a statewide population of less than 845,000 people, which makes it the 46th state as ranked by residents.

The news is part of a trend which has accelerated recently.  Traditional bricks-and-mortar retailers have been in retreat for several years as their business has been stripped away by Amazon (AMZN) and even their own e-commerce initiatives. This year, these include Sears Holdings (SHLD), parent of Sears and KMart, Abercrombie & Fitch (ANF), and Macy's (NYSE: M)

J.C. Penney shares recently dropped to a 52-week low of $5.85, down 15% year to date.

Below is a list of impacted locations:

Mall/Shopping Center City State
Auburn Mall Auburn  AL
Tannehill Promenade Bessemer AL
Gadsden Mall Gadsden AL
Jasper Mall Jasper AL
Military Plaza Benton AR
Chickasaw Plaza Blytheville AR
Riverview Mall Bullhead City AZ
Downtown Bishop Bishop CA
Sunwest Plaza Lodi CA
The Village at Orange Orange CA
Hilltop Mall Richmond CA
Fort Morgan Mail St. Fort Morgan CO
Glenwood Springs Mall Glenwood Springs CO
St. Vrain Centre Longmont CO
Broadway Plaza Sterling CO
Connecticut Post Mall Milford CT
Jacksonville Regional Shopping Center Jacksonville FL
Palatka Mall Palatka FL
Dublin Mall Dublin GA
Macon Mall Macon GA
Milledgeville Mall Milledgeville GA
Gateway Plaza Thomasville GA
Tifton Mall Tifton GA
Downtown Decorah Decorah IA
Crossroads Mall Fort Dodge IA
Penn Central Mall Oskaloosa IA
Quincy Place Ottumwa IA
Snake River Plaza Burley ID
Eastland Mall Bloomington IL
Fulton Square Canton IL
Village Square Mall Effingham IL
Freestanding Macomb IL
Peru Mall Peru IL
Northland Mall Sterling IL
Centerpointe of Woodridge Woodridge IL
FairOaks Mall Columbus IN
Connersville Plaza Connersville IN
Huntington Plaza Huntington IN
Jasper Manor Center Jasper IN
Logansport Mall Logansport IN
Chanute Square Chanute KS
Downtown Great Bend Great Bend KS
Hutchinson Mall Hutchinson KS
Freestanding Lawrence KS
Winfield Plaza Winfield KS
Cortana Mall Baton Rouge LA
Park Terrace DeRidder LA
North Shore Square Slidell LA
Berkshire Mall Lanesborough MA
Easton Marketplace Easton MD
Rockland Plaza Rockland ME
LakeviewSquare Mall Battle Creek MI
Delta Plaza Escanaba MI
Westshore Mall Holland MI
Copper Country Mall Houghton MI
Birchwood Mall Kingsford MI
Midland Mall Midland MI
Cascade Crossings Sault Ste. Marie MI
Central Lakes Crossing Baxter MN
Five Lakes Centre Fairmont MN
Faribo West Mall Faribault MN
Irongate Plaza Hibbing MN
Hutchinson Mall Hutchinson MN
Red Wing Mall Red Wing MN
Downtown Thief River Falls Thief River Falls MN
Freestanding Winona MN
Maryville Center Maryville MO
Leigh Mall Columbus MS
Southgate Plaza Corinth MS
Greenville Mall Greenville MS
Bonita Lakes Mall Meridian MS
Oxford Mall Oxford MS
Capital Hill Mall Helena MT
Sidney Main Street Sidney MT
Albemarle Crossing Albemarle NC
Boone Mall Boone NC
Eastridge Mall Gastonia NC
Blue Ridge Mall Hendersonville NC
Monroe Crossing Monroe NC
Becker Village Mall Roanoke Rapids NC
Prairie Hills Mall Dickinson ND
Buffalo Mall Jamestown ND
Downtown Wahpeton Wahpeton ND
Fremont Mall Fremont NE
Downtown McCook McCook NE
Platte River Mall North Platte NE
Rio Grande Plaza Rio Grande NJ
The Boulevard Las Vegas NV
Dunkirk-Fredonia Plaza Dunkirk NY
Westfield Sunrise Massapequa NY
Palisades Center West Nyack NY
Findlay Village Mall Findlay OH
New Towne Mall New Philadelphia OH
Richmond Town Square Richmond Heights OH
St. Mary's Square St. Marys OH
Altus Plaza Altus OK
Ne-Mar Shopping Center Claremore OK
Ponca Plaza Ponca City OK
Pioneer Square Shopping Center Stillwater OK
Astoria Downtown Astoria OR
Grants Pass Shopping Center Grants Pass OR
La Grande Downtown La Grande OR
Downtown Pendleton Pendleton OR
The Dalles Main Street The Dalles OR
Columbia Mall Bloomsburg PA
Clearfield Mall Clearfield PA
King of Prussia Mall King of Prussia PA
Philadelphia Mills Philadelphia PA
Bradford Towne Centre Towanda PA
Lycoming Mall Pennsdale PA
Willow Grove Park Willow Grove PA
Citadel Mall Charleston SC
Town 'N Country Easley SC
Palace Mall Mitchell SD
Northridge Plaza Pierre SD
Watertown Mall Watertown SD
Yankton Mall Yankton SD
Greeneville Commons Greeneville TN
Knoxville Center Knoxville TN
County Market Place Union City TN
Athens Village Shopping Center Athens TX
Borger Shopping Plaza Borger TX
Heartland Mall Early TX
El Paso Downtown El Paso TX
Marshall Mall Marshall TX
McAllen Downtown McAllen TX
University Mall Nacogdoches TX
King Plaza Shopping Center Seguin TX
Bosque River Center Stephenville TX
New River Valley Mall Christiansburg VA
Tanglewood Mall Roanoke VA
Pilchuck Landing Snohomish WA
Pine Tree Mall Marinette WI
Marshfield Mall Marshfield WI
Richland Square Shopping Center Richland Center WI
Rapids Mall Wisconsin Rapids WI
Foxcroft Towne Center Martinsburg WV
Downtown Sheridan Sheridan WY

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