PENNEY’S SETS CLOSINGS
DALLAS — As expected, J.C. Penney Co. will announce this week the locations of approximately 50 underperforming stores around the country that it plans to close, a spokeswoman said Tuesday.
In an exclusive interview with WWD last month, Penney’s chairman and chief executive officer Allen Questrom disclosed that 10 to 50 units could close this year, as part of a restructuring to improve the retailer’s long-ailing performance. Penney’s, based in Plano, Tex., currently has 1,100 department stores and last year closed 45. Some of Penney’s Eckerd drug stores are expected to close as well.
The spokeswoman confirmed reports that among the department stores closing are units in: Southwest Center in south Dallas; Irving Mall in Irving, Tex.; and Town & Country Mall in Houston.