J.C. Penney announced Friday it plans to close 130 to 140 stores as well as two distribution centers by May.
The Company is also implementing a voluntary early retirement program (VERP) incentive for
approximately 6,000 eligible employees.
The closure may affect two store locations in mid-Missouri, one at the Columbia Mall and another at the Capital Mall in Jefferson City.
Carter English, J.C. Penney Corporate Communications, told ABC 17 News Friday the company plans to release a full list of planned store closures by mid-March.
“Taking actions that directly impact our valued associates and loyal customers is difficult, but we’ll go to great lengths to relocate esteemed leaders, while providing outplacement support services for those eligible associates who will be leaving the Company,” English said.
The closure announcement comes as Penney posted a profit for the fourth quarter, compared to a loss a year ago. But total sales were down slightly, and a key revenue metric declined a bit as well.