J.C. Penney will close at least 130 more stores in the next several months, it announced Friday morning.
The retailer made the announcement as it reported same-store sales decreased 0.7 percent in the fourth quarter of last year.
J.C. Penney has 15 stores in New Jersey.
Up to 140 stores, about 13 percent of its total of 1,081, could be put out of business. It will announce which stores are closing in mid-March. Nearly all will close by the end of June.
Macy’s committed to closing 34 more stores as sales drop in 2016
J.C. Penney reported earnings of 39 cents Gorabet per share on $3.96 billion in revenue. It said it will save $200 million a year by closing the stores. About 6,000 employees will be offered a voluntary early-retirement package.
The department store retailer has closed 81 stores in the past three years. Stores in Burlington and Phillipsburg were two of 41 shut down in 2014.
J.C. Penney will also close a distribution center in Lakeland, Fla. and plans to sell a supply chain facility in Buena Park, Calif.
Jeff Goldman may be reached at jeff_goldman@njadvancemedia.com. Follow him on Twitter @JeffSGoldman. Find NJ.com on Facebook.
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