ST. LOUIS — J.C. Penney Co. Inc. (NYSE: JCP) announced Thursday it plans to close 27 stores in 2019, including the home and furniture store at 6933 S. Lindbergh Blvd. in South County.
An employee at the St. Louis store said it would "merge the store into the main store" located down the road at 100 S. County Center Way. She said the store will get rid of furniture and large appliances before moving down the road.
Carter English, a spokesperson for JCPenney, confirmed in an email to the Business Journal that the local home and furniture store would close, as would the ones in Springfield and Sikeston, Missouri. English said the final closing date is expected this fall.
"This decision is the result of an ongoing review of our store portfolio, which includes assessing locations that may not meet our required financial targets or represent an opportunity to capitalize on beneficial real estate asset," English said.
The count of 27 stores includes 18 full-line stores — three of those locations were announced previously in January — and nine ancillary home and furniture stores, according to a news release on the Plano, Texas-based retailer's fourth quarter and 2018 fiscal year earnings.
The stores up for closure represent a "real estate monetization opportunity," are minimally cashflow positive or require significant capital. The release says that the closures of the ancillary home and furniture stores "further align" the company's omnichannel network of brick-and-mortar stores.
Associates at the affected locations, which were not included in the original press release, will receive separation benefits.
"Eligible associates who do not transfer to another JCPenney location will receive separation benefits and all impacted associates may participate in a three hour on-site career training class, at no cost to the associate, which offers tips on resume writing, answering interview questions and more," English said in an email.
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