J.C. Penney lists the 138 stores it is planning to shutter
NEW YORK (AP) — J.C. Penney is listing the 138 locations it will shutter in the coming months as the retailer seeks to cut costs and improve its profitability.
Like other department stores, J.C. Penney Co. is hurting as more people shop online instead of heading to the mall. The closures are part of the company's previously announced plans to focus on its best-performing stores.
Nine stores will close in Texas, the most of any state. Eight will close in Minnesota and seven will be shut in both Michigan and Pennsylvania.
Liquidation sales will start at the 138 stores next month, and most of them will be shut by mid-June.
The closings will leave J.C. Penney with a total of about 900 stores.