List of 33 JCPenney Stores Closing by May 2014

by Burke Speaker | January 16, 2014 10:52 am

List of 33 JCPenney Stores Closing by May 2014

With 33 JCPenney stores closing by May 2014, customers are rethinking their ties to the classic American clothing retailer.

Chief Executive Myron Ullman said in a statement the move “addresses a strategic priority to improve the profitability of our stores.”

Though JCPenney did not release retail numbers for the holiday season, many believe the cuts come after lackluster performance — which shows that customers continue to move away from the clothing retailer.

READ: JCP Stock: JCPenney announced layoffs, store closings[1]

Check out the full list of stores closing below:

Selma, Ala. — Selma Mall

Rancho Cucamonga, Calif. — Arrow Plaza

Colorado Springs — Chapel Hills Mall

Meriden, Conn. — Meriden Square

Leesburg, Fla. — Lake Square Mall

Port Richey, Fla. — Gulf View Square

Muscatine, Iowa — Muscatine Mall

Bloomingdale, Ill. — Stratford Square Mall

Forsyth, Ill. — Hickory Point Mall

Marion, Ind. — Five Points Mall

Warsaw, Ind. — Marketplace Shopping Center

Salisbury, Md. — The Centre at Salisbury

Marquette, Mich. — Westwood Plaza

Worthington, Minn. — Northland Mall

Gautier, Miss. — Singing River Mall

Natchez, Miss. — Natchez Mall

Butte, Mont. — Butte Plaza Shopping Center

Cut Bank, Mont.

Kinston, N.C. — Vernon Park Mall

Burlington, N.J. — Burlington Center

Phillipsburg, N.J. — Phillipsburg Mall

Wooster, Ohio — Wayne Towne Plaza

Exton, Pa. — Exton Square Mall

Hazleton, Pa. — LaurelMall

Washington, Pa. — Washington Mall

Chattanooga — Northgate Mall

Bristol, Va. — Bristol Mall

Norfolk, Va. — Military Circle Mall

Fond du Lac, Wis., Forest Mall

Janesville, Wis. — Janesville Mall

Rhinelander, Wis. — Lincoln Plaza Center

Rice Lake, Wis. — Cedar Mall

Wausau, Wis. — Wausau Mall

JCP is the second retailer to announce large cuts (via Reuters):[2]

A Penney spokeswoman on Wednesday said two of the 33 stores were locations owned by the company, with the remainder being leased stores. Penney leases its stores at over half of its mall locations, according to an analysis last year by Green Street Advisors.

Stores closing include five in Wisconsin, where archrival Kohl’s Corp is dominant, three in Pennsylvania, and two in Florida. No stores in Penney’s home state of Texas are slated to close.

Last week, Macy’s (M[3]) said it was eliminating 2,500 jobs.

For JCPenney, shuttering the underperforming stores may still not be enough of a game changer to turn the tide.

As the New York Times reports, “J. C. Penney has undergone considerable management and investment turmoil in the last few years. It fired one chief executive, Ron Johnson, and then brought back his predecessor, Myron E. Ullman III. It tried a new retail strategy, which alienated core customers, and reverted to its old strategy.”

JCP stock, meanwhile, has plummeted nearly 80% in the last two years.

It’s a reflection on what customers have been saying for years — the stores have been slow to move forward in terms of what consumers want.

Click here to read the JCPenney statement about the closings.[4]

Endnotes:
  1. READ: JCP Stock: JCPenney announced layoffs, store closings: http://investorplace.com/2014/01/jcp-stock-jcpenney-layoffs-stores-closing/
  2. Reuters):: http://www.reuters.com/article/2014/01/15/jcpenney-turnaround-idUSL2N0KP1ZO20140115
  3. M: http://studio-5.financialcontent.com/investplace/quote?Symbol=M
  4. Click here to read the JCPenney statement about the closings.: http://ir.jcpenney.com/phoenix.zhtml?c=70528&p=irol-newsArticle&ID=1891155&highlight=

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