J.C. Penney to Close 40 Stores in 2015

J.C. Penney will close about 40 stores over the next year, according to a company spokesman. The closures will impact less than 4 percent of Penney's total store base and approximately 2,250 associates, according to spokesman Joey Thomas. Most locations will close on or about April 4, Thomas said. Penney's currently operates about 1,060 stores in the U.S. and Puerto Rico. "We continually evaluate our store portfolio to determine whether there's a need to close or relocate underperforming stores," Thomas said. "Reviews such as these are essential in meeting our long-term goals for future company growth."