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J.C. Penney Co. will close 40 stores over the next year, the company announced Thursday. The closures represent nearly 4% of J.C. Penney's 1,060 stores.
J.C. Penney Is Closing These 138 Stores This Spring. J.C. Penney on Friday released the list of the 138 stores it is closing as the retailer looks to get its turnaround back on track. Last month, the struggling department store chain announced it would close up to 140 stores this spring in order to focus on improving its locations with the most potential. Penney reported a 0.7% decline in comparable sales for the holiday quarter, the third period out of four last fiscal year to see business soften.