March 29, 2017

Melbourne, Merritt Island JC Penney stores safe amid company cuts

19 March 2017, 04:46 | Winifred Adams

Melbourne, Merritt Island JC Penney stores safe amid company cuts

JC Penney store in Longmont among 138 closures

J.C. Penney said last month that it is shrinking its store footprint and will, like other traditional retailers, focus on e-commerce as a way to improve its overall profitability.

In addition to the 138 stores, J.C. Penney Company Inc. also will close one supply chain facility in Lakeland, Fla., and will relocate one supply chain facility in Buena Park, Calif.

The company expects the closures will effect about 5,000 positions nationwide, with most stores closing in June. Now, it has unveiled a new round of layoffs that will result in 140 stores closing down.

"JCPenney is in the process of identifying relocation opportunities within the company for esteemed leaders", the retailer said in announcing the closings.

Penney's, based in Plano, Texas, had more than 1,000 stores nationwide before this latest round of closings.

J.C. Penney's decision not to close local stores differs from that of other major retailers in recent months.

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The company released the long-anticipated list of stores it intends to close today.

KARENā€ˆVIBERT-KENNEDY/Sun-Gazette The JCPenney store at Lycoming Mall prepares to close permanently with sales.

The move will let the company "allocate capital more efficiently" to boost its in-store shopping experiences and offset the expense of delivering orders placed online, he said.

JCPenney opened one of its first stores in Kansas in downtown Great Bend on August 25, 1923.

The first JC Penney store opened in Midland in March 1939, on the north corner of Main and Ashman streets, on the first floor of the Reinhart building. The company will also be providing outplacement services for eligible employees, the release notes. Two stores in Montana are among those slated for closure.

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