J.C. Penney released Friday the list of 138 stores it will be shutting down across the U.S. as a part of the company’s cost-cutting measures. The retailer announced last month it would close over 130 stores this year, which lead to 5,000 job cuts.
The store closures are expected to take place in June and liquidation will begin April 17. The company will offer transfer opportunities to some of its affected workers.
J.C. Penney’s same-store sales and revenue were below expectations in 2016, despite posting positive net income. The mega-retailer reported net sales of $4 billion in the 2016 fourth quarter with its salon and fine jewelry, home and Sephora divisions being the top performers.
“This year was not without its challenges, particularly in our women’s apparel business, but I am proud this team delivered on our goal to return our company to profitability in 2016,” J.C. Penney’s Chairman and CEO Marvin R. Ellison said last month while announcing the closure of the stores.
“We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers,” Ellison said.
The company is expecting to save about $200 million annually by closing the stores that contributed less than 5 percent of its annual sales, CNBC reported. The retailer is also planning to invest in its top-performing stores and digital operations.
In February, J.C. Penney said it would provide employees affected by the closure a “voluntary early retirement program” depending on their age and tenure. Those eligible were given time until March 31 to inform the company whether they will accept the offer, CNBC reported, citing a company spokeswoman.
Here's a list of some of the stores that will be closed in June. You can check out the full list here.
Downtown Bishop: Bishop
Sunwest Plaza: Lodi
The Village at Orange: Orange
Hilltop Mall: Richmond
Jacksonville Regional Shopping Center: Jacksonville
Palatka Mall: Palatka
Albemarle Crossing: Albemarle
Boone Mall: Boone
Eastridge Mall: Gastonia
Blue Ridge Mall: Hendersonville
Monroe Crossing: Monroe
Becker Village Mall: Roanoke Rapids
Rio Grande Plaza: Rio Grande
The Boulevard: Las Vegas
Dunkirk-Fredonia Plaza: Dunkirk
Westfield Sunrise: Massapequa
Palisades Center: West Nyack
Athens Village Shopping Center: Athens
Borger Shopping Plaza: Borger
Heartland Mall: Early
El Paso Downtown: El Paso
Marshall Mall: Marshall
McAllen Downtown: McAllen
University Mall: Nacogdoches
King Plaza Shopping Center: Seguin
Bosque River Center: Stephenville