Hundreds of Amazon Showrooms to Close! 18 Large Retailers Besides J.C. Penney Are Closing Waves of Stores

Maybe it’s not that they’re not buying, maybe they’re just buying from Amazon.

The Great Restructuring in retail continues.

In the wake of a disappointing holiday season, J.C. Penney (JCP) said recently that it will close 138 stores stores by the second quarter. The store closures represent 13% to 14% of the company’s current store base and less than 5% of annual sales. They have a negligible impact on net income. J.C. Penney said same-store sales at the locations were “significantly below” the remaining store base and operate at a much higher expense rate due to poor productivity.

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