JC Penney plans to close 33 stores, saying the move will save the company $65 million. (Source: JC Penney)
(RNN) – J.C. Penney announced Wednesday that it will close 33 "underperforming" stores nationwide.
The closures will begin in the next few months, eliminating approximately 2,000 jobs. The remaining inventory will be sold until the final closures occur in May, a news release from the company says.
The company says closing the stores will save the retailer nearly $65 million.
"As we continue to progress toward long-term profitable growth, it is necessary to re-examine the financial performance of our store portfolio and adjust our national footprint accordingly," said J.C. Penney CEO Myron E. Ullman, III.
J.C. Penney has more than 1,100 stores in the U.S.
The list of stores closing includes locations in Alabama, Mississippi, Virginia and Wisconsin. For a complete list of closures, click here.
Despite the store closures, J.C. Penney will continue to open other stores, including a location in Brooklyn, NY.
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