JCPenney's store footprint will shrink considerably in the next few months.Matt Boster
Posted by: Matt Boster
Date: Feb 24 2017 8:19 AM
According to AL.Com: The department store retailer announced this morning it will shutter 130-140 stores and two distribution facilities this year under a plan to "optimize its national retail operations as part of the company's successful return to profitability."
The company expects to save approximately $200 million in annual costs primarily in occupancy, payroll, home office support, corporate administration and other store-related expenses. The full list of store closures will be released in mid-March, so JCPenney has time to notify affected personnel.