JCPenney Stores Closing!
JCPenney has announced that it will close up to 140 stores and 2 distribution centers in 2017! There is not a list of the JCPenney stores closing yet; however, it’s sure to bring a lot of good clearance deals. Most of the JCPenney stores closing are expected to take place during the second quarter of 2017.
JCPenney will take a $225 million hit to its earnings from the cost of closing the stores. But it expects to save $200 million a year in payroll and other costs. It said the stores to be closed had weaker sales or would have needed expensive upgrades.
While the stores’ closings will affect thousands of jobs, Amazon recently announced that they will be hiring 100,000 workers this year! See more information here. Be sure to check back here as I will have a list of the JCPenney stores closing. Although select stores are closing, you can still shop online (as of right now).
Tip: If you use ShopKick, go ahead and cash in your JCPenney Gift Cards so you can be ready for the clearance sales! (Get more information on ShopKick here.) Additionally, you can grab a $60.00 JCPenney Gift Card for just $48.50 when you go here and use the coupon code NEWRAISE50. This will help you save even more money with the closing sales!
Are you a JCPenney Shopper? How do you feel about the stores closing?