OKLAHOMA – JCPenney revealed which stores it will close nationwide after announcing plans to shut down between 130 and 140 stores a few weeks ago. The list of 138 stores includes four Oklahoma locations.
In February, the company announced it delivered a net profit in 2016 for the first time since 2010. However, it says that the brick-and-mortar stores couldn’t compete with online companies.
As a result, JCPenney is closing 138 stores nationwide. The company says they also plan to close one supply chain facility in Florida and relocating one supply chain in California.
“We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers. Maintaining a large store base gives us a competitive advantage in the evolving retail landscape since our physical stores are a destination for personalized beauty offerings, a broad array of special sizes, affordable private brands and quality home goods and services. It is essential to retain those locations that present the best expression of the JCPenney brand and function as a seamless extension of the omnichannel experience through online order fulfillment, same-day pick up, exchanges and returns,” said Marvin Ellison, chairman and CEO of JCPenney.
The following JCPenney stores in Oklahoma are set to close:
- Altus Plaza in Altus
- Ne-Mar Shopping Center in Claremore
- Ponca Plaza in Ponca City
- Pioneer Square Shopping Center in Stillwater
The store closures will impact approximately 5,000 positions nationwide, the company announced.
Most of the stores that are closing are expected to begin the liquidation process on April 17 with most of them closing in June.
You can find the full list of closures across the country here.