NEW YORK (AP/FOX 17) — J.C. Penney is joining its department store rivals in pruning its store numbers in an era of online shopping.
Penney said last month that it will close 130 to 140 stores as well as two distribution centers over the next several months as it tries to improve profitability. The company said that it would also initiate a voluntary early retirement program for about 6,000 eligible employees.
Friday, the company announced which stores would be closing. Seven stores in Michigan are on the list, including the store at Westshore Mall in Holland and Lakeview Square Mall in Battle Creek. Macy’s announced they are closing their Lakeview Square Mall store in January.
The other Michigan stores being closed are in Escanaba, Houghton, Kingsford, Midland, and Sault Ste. Marie.
CEO Marvin Ellison acknowledged that Penney wasn’t strategic with promotions, which hurt profit margins, and said that its level of couponing was “unhealthy.” It plans to use a more data-driven approach to pricing this year after testing the strategy in some categories last year.
The Associated Press contributed to this report.
