J.C. Penney to reportedly close at least 130 stores

J.C. Penney will close at least 130 more stores in the next several months, according to CNBC.com. The retailer made the announcement Friday morning as it reported same-store sales decreased 0.7 percent in the fourth quarter of last year. J.C. Penney has...

J.C. Penney to reportedly close at least 130 stores

J.C. Penney will close at least 130 more stores in the next several months, according to CNBC.com.

The retailer made the announcement Friday morning as it reported same-store sales decreased 0.7 percent in the fourth quarter of last year.

J.C. Penney has stores at the Lehigh Valley Mall in Whitehall and the Stroud Mall in the Stroudsburg area. It has 15 stores in New Jersey but none in Warren County.

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 March, according to CNBC.com

Macy's committed to closing 34 more stores as sales drop in 2016

J.C. Penney reported earnings of 39 cents 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 report said.

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.

Jeff Goldman may be reached at jeff_goldman@njadvancemedia.com. Follow him on Twitter @JeffSGoldman. Find NJ.com on Facebook.

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