How many JC Penney stores are closing in New Jersey?
PLANO, Texas — JC Penney has released its list of 138 stores closing across the country.
The company said that while achieving its earnings-before-taxes goal for 2016 for the first time since 2010, "we believe we must take aggressive action to better align our retail operations for sustainable growth," CEO Marvin R. Ellison said in a statement about the closures.
Only the store at the Rio Grande Plaza in Cape May County's Middle Township is on the the list for New Jersey. However, in the greater Philadelphia area, three stores are closing in King of Prussia at Philadelphia Mills and Willow Grove Park. A supply chain facility in Lakeland, Florida, is closing and another in Buena Park, California, will be relocated.
The Rio Grande store, described as being a smaller than normal store, is the second South Jersey location to close in the past three years. The Cumberland Mall location in Vineland closed in 2014.
The Rio Grande store is described as being a smaller than normal store.
"5,000 positions nationwide will be impacted by the store closures, most of which will occur in June," according to a statement, with liquidation sales starting on April 17. The chain will also provide outplacement support for employees losing their job.
The closure leaves 13 JC Penney locations in New Jersey.
Macy's announced plans to closed another 34 stores this year in addition to 66 stores it previously said would close, including locations in Moorestown, Voorhees, and the Preakness Shopping Center in Wayne. It has not identified the new locations that will close. Toys R Us, meanwhile, laid off 250 employees at its Wayne headquarters.
The parents company of Outback, Carrabba's and Bonefish, Bloomin' Brands, closed 43 restaurants across the country including five locations in New Jersey.
Chris Coleman contributed to the report.
Contact reporter Dan Alexander at Dan.Alexander@townsquaremedia.com.
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