J.C. Penney Co. Inc. said it plans to close seven stores as part of the retailer’s annual review. A spokesman said the stores to be shuttered represent a “significant decrease from the number of closures reported in previous years. These locations represent less than one percent of the company’s total store base.”
Last year the company closed 39 stores, and in 2014 shuttered 33 stores. The seven sites designated for closure are: Cupertino, Calif.; Owings Mills, Md.; DeWitt, N.Y.; Cranberry, Penn.; Morristown, Tenn.; Price, Utah, and Rock Springs, Wyo. The company operates 1,020 stores.
The spokesman added that the annual review evaluates whether the company’s store portfolio meets “all required financial targets,” suggesting that one component of that includes the ability of a store to support the chain’s effort to be an omnichannel retailer.