JCPenney announced Friday it plans to close between 130 and 140 stores and two distribution centers nationwide.
A list of store closures will not be available until next month, but there are JCPenney stores in Fairview Heights and Alton, as well as seven stores in St. Louis and west St. Louis County. The company has about 1,000 stores nationwide.
The closures are part of an effort to streamline services in a market trending increasingly toward online shopping. Stores slated for closure represent only about 5 percent of the company’s annual sales and are in some cases costing JCPenney more cash than they’re generating, the company said in a news release. JCPenney joins big-box retailers like Macy’s, Sears and Kmart in announcing store closures.
JCPenney closed 83 stores in 2016, according to Fortune magazine.
One of the distribution centers set for closure is in Lakeland, Fla.
JCPenney was founded in 1902 by Hamilton, Mo., native James Cash Penney.