IE Business Daily Business news for the Inland Empire.
JCPenney will close 130 to 140 store during the next few months and will offer early retirement to approximately 6,000 employees, the company announced Friday.
A list of the stores is expected to be released in mid-March, with most of those locations expected to be shuttered by the end of July, according to a statement on the company’s website.
The Plano, Texas-based company – which reported its first quarterly profit since 2010 on Friday – will also close distribution centers in Lakeland, Fla. and Buena Park.
Those moves are expected to save the department store chain about $200 million a year.
JCPenney has 79 stores in California, including 11 in the Inland Empire, according to the company’s website.
