JCPenney is shutting down eight stores across multiple states in the coming months due to lingering effects of the COVID-19 pandemic. Currently, the department store has 650 locations.
“While we do not have plans to significantly reduce our store count, we expect a handful of JCPenney stores to close by mid-year,” a JCPenney spokesperson told Axios.
According to Newsweek, JCPenney and several other brick-and-mortar businesses have been forced to shut down as consumers increasingly turn to online shopping. About 15,000 stores are expected to close this year, compared to 7,325, Newsweek reported while citing data from Coresight Research.
Major retail stores such as Kohl’s, Bargain Hunt and Big Lots have already announced store consolidations and bankruptcies due to the grim outlook. Walgreens, Macy’s and Starbucks are also expecting to shut down stores.
The eight JCPenney stores that will close this year are in San Bruno, California; Denver, Colorado; Pocatello, Idaho; Topeka, Kansas, Annapolis, Maryland; Asheville, North Carolina; Newington, New Hampshire and Charleston, West Virginia. JCPenney recently merged with retail store operator Sparc, but a spokesperson told Axios that the forthcoming closures are unrelated.
“The decision to close a store is never an easy one, but isolated closures do happen from time to time due to expiring lease agreements, market changes or other factors,” they said.
According to Newsweek, CEO Marc Rosen said the merger will allow the two businesses to grow their brands further. After filing for bankruptcy in 2020, JCPenney has shrunk from about 850 stores to 650, Newsweek reported.
