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JC Penney to Delay Store Closures

Less than a month after announcing 138 doors would shutter, the retailer has seen an uptick in foot traffic. As a result, the department store chain has decided not to close the door on these eager customers just yet.

The renewed interest gives the company time to sell through its current stock before beginning liquidation sales.

“Ever since the company announced its store closure list, those stores have seen better-than-expected sales and traffic,” J.C. Penney spokesperson Daphne Avila told CNBC. “This is not an uncommon response when you announce a store closure. Local shoppers will come out for a variety of reasons—some out of nostalgia and some who are just looking for a great deal.”

When the stores close, the company will save $200 million, which it will use toward upgrading the remaining locations, re-merchandising its women’s assortment, augmenting the beauty offering and focusing on omnichannel. Approximately 5,000 employees will be affected in 41 states.

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