J.C. Penney Closing over 100 stores

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Mike Kalasnik

J. C> Penney Store

By Katlynn McKenzie , Staff Writer

Retail companies are closing many of their stores in various locations however, J. C. Penney is closing close to 130-140 of their stores. They are hoping over the next four months the closing of the stores will  allow them to adjust their business to effectively compete against the growing threat of online retailers.

The J. C. Penney CEO Marvin Ellison said, “They are committed to having brick-and-mortar locations.” While they are not outright closing all of their stores like Sears seems to be doing, they plan on closing many to compensate for online shopping.  Nine stores in Texas will be closing.  Most are in smaller communities where the revenue is not adequate to support the store.

The consequences  of J. C. Penney closing so many stores however, means that over 5,000 people are losing their jobs and source of income. Most of the stores began liquidation sales April 17 and shut down by June.