JCPenney, a retail institution founded over 120 years ago in 1902, is set to close seven of its stores as part of a strategic shift under its new parent company, Catalyst Brands. This decision comes on the heels of their January merger with SPARC Group. That partnership now puts the brand next to successful retailers including Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand & Nautica.
Today, JCPenney has over 600 locations throughout the United States and Puerto Rico. The company has redoubled its focus on its local markets and expanded e-commerce operations in recent months as it sought to steer through that transition. The closures mark an inflection point for the company’s history. Beyond their immediate impacts, they illustrate wider trends within the retail sector as it adapts to changing consumer habits and ongoing economic pressures.
JCPenney has gained brand loyalty through their private brands, such as Arizona, Stafford, and Liz Claiborne. These offerings have allowed the vibrant company to round out its balance sheet and product line, keeping it offer-plenty and building a diverse core of customers. Today, JCPenney continues its relentless offer to delight and satisfy its customers. While some stores may be closing, the retailer still serves customers in almost 650 stores nationwide and on its website at JCPenney.com.
“We are grateful to our dedicated associates and the loyal customers who have shopped at these locations, and we hope to continue serving them throughout our nearly 650 stores nationwide and online at JCPenney.com.” – JCPenney
This wave of store closures signals a dramatic turn for the retail landscape. To adapt to the continuing rise of e-commerce and the need for last mile distribution, businesses have reconsidered their in-person footprint. JCPenney is the latest company cutting back their operations. They will use that money to make customer experiences better in their existing locations and in their new online business.
