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That year, the company adopted the JCPenney style in advertising. [16] and its revenues reached $5 billion (equivalent to $37.6 billion in 2025) for the first time and catalog business made a profit for the first time. [17] JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments. [17]
JCPenney announced in February 2017 that it would close 138 stores in 2017. Liquidation sales began on May 22, and the stores closed by July 31. [ 166 ] Another 8 stores and a distribution center closed in 2018 while over 50 additional stores were expected to close between mid-2019 and late 2020.
JCPenney announced in February plans to close two distribution facilities and 138 department stores this year to redirect resources in higher-performing locations and initiatives.
On May 31, 2024, the Shenango Valley Mall closed its doors permanently. [ 1 ] [ 55 ] Demolition began in early January 2025, and redevelopment plans were shortly thereafter announced. [ 56 ] The property is to be renamed to Hickory Fields, and its first phase in the western half of the property will include several establishments including ...
More store closings have been announced for JCPenney, including a Mississippi and Texas store. The department store chain has closed 174 stores. JCPenney closing more stores after bankruptcy.
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Later in 2015, Party City opened on the north side of the mall next to JCPenney. [10] [11] In May 2017, one of the anchor retailers, Sears, permanently closed its doors. In 2018, the mall established an area of smaller shops, located behind Topsy's, called 'The River' which focus on featuring small town businesses and boutiques.
Research published by global retail analyst IHL Group in 2019 suggests that the so-called retail apocalypse narrative was an exaggeration, with "more chains that are expanding their number of stores than closing stores.” [7] That year, retailers in the United States announced 9,302 store closings, a 59% jump from 2018, and the highest number ...