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J.C.Penney planning to close 40 stores

2 min read

NEW YORK – J.C. Penney Co. said it will close about 40 stores this year and cut 2,250 jobs, as it tries to improve its profitability.

Most of the stores, located in malls around the country, will close by April 4. The Plano, Texas, company currently runs about 1,060 stores.

According to a list of store closings provided by the company, the chain will close five stores in Pennsylvania, at Nittany Mall in State College; Chambersburg Mall in Franklin County; Susquehanna Valley Mall, Snyder County; Granite Run Mall in Media, Delaware County; and York Galleria in York County.

The announcement Thursday comes two days after J.C. Penney reported a rise in sales during the critical holiday shopping season, an encouraging sign as the company tries to recover from a botched plan to reinvent itself under former CEO Ron Johnson. It tapped a new CEO, former Home Depot executive Marvin Ellison, who will replace current CEO Mike Ullman in August. Ullman was rehired as CEO in April 2013 after retiring from the top job in 2011.

J.C. Penney said all employees at stores being closed will be offered career training classes, including help writing résumés and filling out applications. The company said some employees are eligible to receive separation benefits.

Last January, the company announced plans to close about 33 stores and cut a 2,000 jobs.

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