J.C. Penney Announces 7 Stores To Close In Michigan
DETROIT (WWJ) - J.C. Penney says it will close seven of its 42 Michigan stores by the end of the year.
The department store chain announced a list of 138 store closings on Friday. None of the Michigan closures are in metro Detroit.
Included are stores in Battle Creek, Holland and Midland, plus four locations across the Upper Peninsula:
- Lakeview Square Mall: Battle Creek
- Delta Plaza: Escanaba
- Westshore Mall: Holland
- Copper Country Mall: Houghton
- Birchwood Mall: Kingsford
- Midland Mall: Midland
- Cascade Crossings: Sault Ste. Marie
WWJ Business Editor Murray Feldman reports these are stores that contribute less than 5 percent to the company's business.
"The company says they may be saving $200 million a year by closing its stores and readjusting it's business to better complete with the online retailers," Feldman said.
This comes after, last month, the J.C. Penney said it would be closing anywhere from 130 to 140 stores as well as two distribution centers over a course of several months in an effort to improve profitability in the era of online shopping.
Some analysts feel more closures might be needed down the road for J.C. Penney, as it fights for survival.