JCPenney is set to shutter several stores in 2025 as the retailer continues to navigate shifting market conditions. The company has confirmed that a “handful” of locations will close over the coming months, citing expiring lease agreements and changing market dynamics as primary reasons.
“While we do not have plans to significantly reduce our store count, we expect a handful of JCPenney stores to close by mid-year,” a company spokesperson told FOX Business.
Eight JCPenney locations across eight states are slated for closure, according to SB360 Capital Partners, the firm managing the liquidation sales.
The affected stores are located in:
The Shops at Tanforan, San Bruno, California
The Shops at Northfield, Denver, Colorado
Pine Ridge Mall, Pocatello, Idaho
West Ridge Mall, Topeka, Kansas
Annapolis Mall, Annapolis, Maryland
Asheville Mall, Asheville, North Carolina
Mall at Fox Run, Newington, New Hampshire
Charleston Town Center, Charleston, West Virginia
JCPenney has clarified that these closures are unrelated to its recent merger with SPARC Group, the parent company of brands like Aéropostale, Brooks Brothers, and Eddie Bauer. The merger, finalized in January, formed a new retail organization, Catalyst Brands, which aims to streamline operations across six major retail banners.
Despite its long history in American retail, JCPenney has struggled with declining foot traffic and sluggish sales for years. The company filed for bankruptcy protection in 2020 amid the pandemic and was subsequently acquired by Simon Property Group and Brookfield Asset Management Inc. As part of its restructuring plan, JCPenney permanently closed nearly a third of its 846 stores.
To remain competitive, JCPenney has been working to redefine its brand identity, focusing on affordability and appealing to working families. CEO Marc Rosen emphasized the retailer’s commitment to offering cost-effective alternatives to other department stores, aiming to increase customer engagement. Additionally, the company announced a $1 billion investment to enhance its store portfolio.
While these store closures mark another chapter in JCPenney’s ongoing transformation, the retailer remains focused on stabilizing its business and maintaining a presence in key markets. As the retail landscape continues to evolve, JCPenney’s strategy will be crucial in determining its long-term viability.
