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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.
Posted: 01/15/2014 4:35 pm EST Updated: 01/23/2014 6:56 pm EST. J.C. Penney announced Wednesday the company will close 33 of its stores, resulting in about 2,000 job cuts. It still plans to open a new store in Brooklyn, N.Y. later this year, the company announced in a press release.