» JCPenney plans more closures amid slumping sales
JCPenney has had trouble for past few years, including 138 closed stores (five in south Georgia) in 2017.
Net sales for the company’s fourth quarter in 2018 dropped 9.5 percent. It had a net loss of $255 million.
JCPenney said the stores to be closed require large amounts of money and don’t yield as much profit as other stores. The company may also be able to make money by selling the store’s real estate.
JCPenney said affected employees will receive assistance in finding a new job and help with outplacement services.
» Which JCPenney stores closed in 2017?