Iconic department store JCPenney closes massive – Business News
Another staple of the American shopping center is quietly trimming its stock.
JCPenney continues to shrink its nationwide footprint, with one more spherical of closures hitting suburban retail facilities in 2026 — together with a longtime anchor store in California.
The most up-to-date Golden State casualty was the retailer’s massive outpost on the Stoneridge Shopping Center in Pleasanton, located within the East Bay area of the San Francisco Bay Area.
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JC Penney has been shrinking its footprint at buying malls throughout the nation in 2026 — together with one location in California.
The store had been in that location because the 1980’s, and completely shut its doorways on February after JCPenney stated lease renewal negotiations fell aside.
“Regretfully, we are unable to continue our current lease terms for this store location and have been unable to find another suitable location in the market,” a JCPenney spokesperson instructed the Pleasanton Weekly. “We are grateful to our devoted associates and the loyal clients who’ve shopped at our Pleasanton, CA, location by the years.
JCPenney’s California retreat is only one of many amid a wider, company-wide contraction.
Other shops which have closed this 12 months embrace areas at Seminole Towne Center in Sanford, Florida; Ford City Mall in Chicago; Rivergate Mall in Goodlettsville, Tennessee; and Springfield Town Center in Springfield, Virginia.
Store closing indicators are seen at a JCPenney location in Pleasanton, close to San Francisco. Gado by way of Getty Images
The chain additionally just lately closed its almost 40-year-old store at Ross Park Mall outdoors Pittsburgh, after equally failing to achieve an settlement on its lease.
At the store’s peak within the Seventies, customers had more than 2,000 areas to select from. In 2020, previous to submitting for Chapter 11 chapter, that quantity dropped to only 846 shops in line with the Securities and Exchange Commission.
Now, throughout the nation, the chain’s store depend has dwindled to roughly 640 areas.
While the retailer was snatched up by Simon Property Group in a $1.75 billion deal in 2020, expiring legacy mall leases and foot visitors shifts have compelled powerful calls on underperforming or high-rent areas.
Its funds aren’t precisely giving mall rats purpose for optimism, both.
Net gross sales reportedly sank more than 8% year-over-year to $1.3 billion during the second quarter of 2026.
“The market, even just for department stores, grew during the quarter, so JCP’s sales dip represents a serious loss of market share,” GlobalData Managing Director Neil Saunders instructed Retail Dive.
There are nonetheless a few indicators of life. Beauty, jewellery, home and activewear have been among the many better-performing classes, whereas the chain is making an attempt to juice its business with a new online market.
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