Time to bid farewell to some Bay Area bargains—JCPenney is narrowing its nationwide footprint by closing doors at seven locations, including The Shops at Tanforan in San Bruno. This trimming down of stores, scheduled for the end of May, has been ascribed to expiring lease agreements, market compliances, and a range of other business considerations. "While we do not have plans to significantly reduce our store count, we can confirm that there are seven isolated JCPenney store closures planned by the end of May," a company spokesperson conveyed to NBC Chicago.
In addition to the San Bruno spot, stores across several states are set to turn off their lights for good locations in Denver, Pocatello, Topeka, Asheville, Newington, and Charleston are all on the cut list. It's a tough pill for the retail chain, which, just years ago, filed for Chapter 11 bankruptcy. Even after a corporate collaboration with the multi-brand entity SPARC Group that spurned Catalyst Brands, ushering JCPenney, along with retailers like Aéropostale and Brooks Brothers, into a new front, they still struggle to keep every outlet afloat.
While closures make the rounds, one JCPenney store has had a stroke of luck. The Westfield Annapolis Mall location in Maryland, which was previously on the chopping block, has extended its tenure until at least August 31, thanks to a lease extension agreement. This unexpected turnaround was detailed in a conversation where a JCPenney spokesperson told USA TODAY on Wednesday.
Even with the closures, Catalyst Brands aims to "optimize" its business structure, in what appears to be a realignment strategy. This corporate decision poured into an announcement about cuts approximating 9% of its corporate roles, the loss of human resources, the Catalyst Brands spokesperson described in an interview with USA TODAY. With plans on the horizon for both JCPenney and Catalyst Brands to pursue retail evolution, store closures, though never without impact, can be a signifier of shifting retail landscapes.
