JCPenney to Shutter Some Stores

JCPenney (Plano, Texas) suffered a decline in same-store sales over the 2018 holiday shopping season that is spurring the company to look at closing stores.

Despite an industry-wide increase in sales of 5.1 percent over the holiday shopping season, JCPenney experienced a decline in same-store sales of 3.5 percent.

As a result, the company announced plans to shutter three of its stores, which will take place during spring 2019. This follows a round of store closures that the retailer conducted two years ago when it trimmed its fleet by 140 stores. 

According to Fortune, if numbers do not improve, the company will likely announce even more closures when it reports its results next month.