JCPenney has announced plans to shutter several stores over the next few months, underscoring the ongoing downturn in the U.S. retail sector.
The department store chain confirmed to Axios that it would be closing another eight locations in 2025—of its more than 650 existing locations—following on from a year marked by similar consolidations.
Newsweek contacted JCPenney for comment via email outside regular hours.
Why It Matters
Physical retail stores have continued to feel the effects of the pandemic, shifting consumer habits and the growing dominance of e-commerce. Described by some as a “retail apocalypse,” many traditional brick-and-mortar businesses have shuttered after failing to adjust to these evolving market dynamics.
According to Coresight Research, an estimated 15,000 stores are expected to close in 2025, up from 7,325 last year. Meanwhile, the number of new store openings is projected to decline from 5,970 to 5,800.
Well-known retailers have announced store consolidations, closures and even bankruptcies due to the retail sector’s declining outlook, including Kohl’s, …