New York J.C. Penney Company announced Wednesday that it was closing 33 J.C. Penney stores nationwide. The Jamestown Penney’s is not on the list for closure.
No North Dakota stores are on the present closure list. One store will be closed in Minnesota, in Worthington.
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.
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.
The company said the stores being closed were underperforming, and the closings were expected to provide an annual cost savings of about $65 million.
Penney, operates about 1,100 mid-market department stores in the United States, is trying to stanch enormous losses and win back shoppers after suffering a 25 percent drop in sales in fiscal 2012 during a failed attempt to go upmarket.
It has returned to the discounts that were long its hallmark and brought back popular in-house brands.












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