JC Penney

[EddieJ1984]

Doesn't surprise me they are closing Willow Grove, as said here the layout is weird in that store. It opened in 2012 when they were really trying to change themselves, so it opened with that weird layout and at the time the blue square jcp logo.

I think with the macy's closures, jcpenneys and surely more sears closures, it is going to be a really trying time for malls.

[Pikapower]

Doesn't surprise me they are closing Willow Grove, as said here the layout is weird in that store. It opened in 2012 when they were really trying to change themselves, so it opened with that weird layout and at the time the blue square jcp logo.

I think with the macy's closures, jcpenneys and surely more sears closures, it is going to be a really trying time for malls.

But the BIG question is what will malls replace said stores with? My guess is maybe repurpose the stores as more retail space for smaller stores.

[mixedday]

That's assuming Boscov's even WANTS to open here, though.

Boscov's already has two stores within 15 minutes of Willow Grove (Plymouth Meeting & Neshaminy) AND previously closed 3 other stores near Willow Grove: Montgomery Mall, Franklin Mills Mall, and a freestanding store on Godfrey Ave.

I think Willow Grove will likely gut this space and reclaim it as mall space. The same thing was done 15 years ago to a former Abraham & Straus/Strawbridge's in King of Prussia, and it's been doing well ever since then (The Pavillion at KOP).

I agree that I doubt Boscov's would have interest in the site; Boscov's adequately covers most of the Philadelphia market. Probably the only area Boscov's would want to open is in Quakerbridge Mall, but there are no vacant anchors to get in there.

One area Boscov's might do well is in Owings Mills, MD. It served that mall when it had to compete with macy's and JCP, but closed a location there.
http://www.bizjournals.com/baltimore/news/2016/12/13/demolition-of-owings-mills-mall-isunderway-as.html

The mall is being gutted but will be redeveloped as an outdoor or big box center, and Boscov's might do well as a central tenant, sole department store. Unless Boscov's can get in Columbia Mall (Columbia MD) bit that's doubtful. Assuming no Columbia store, I think that Boscov's could enhance their position in the Baltimore market by serving the western side of the Baltimore metropolitan area again. The White Marsh store covers the North/Northeast side of the market. As a detached mall site, it could be like their Christiana store or Granite Run.

[mixedday]

JCPenney store closing list:
http://finance.yahoo.com/news/138-jc-penney-stores-close-130436124.html

The Philadelphia area has been hit hard.

I wonder if high rent or just too much competition is forcing JCPenney out of King of Prussia.

JCPenney has closed Exton, Granite Run, and will soon close Willow Grove, King of Prussia and Philadelphia Mills. The latter was a small site like the Willow Grove site. JCPenney's only presence west of the DE river in the PA suburbs of Philly will be Montgomery and Oxford Valley, and Oxford Valley is quite north.

[standa]

The store in Milford, CT will be closing. Alexander's was in that space previously. Does anyone remember Alexander's? It was a NY chain.

[danfifepsu]

The store in Milford, CT will be closing. Alexander's was in that space previously. Does anyone remember Alexander's? It was a NY chain.

why wll it close? what wll it become.

[danfifepsu]

OK why are PAllasades and King of PRussia closing.


and the one in Maine closing is in Rockland. its a old Small one in a WT GRANT

LAnesbor Mass one in the BErkshire Mall is closing. they lost Macys and Best Buy.

[standa]

The store in Milford, CT will be closing. Alexander's was in that space previously. Does anyone remember Alexander's? It was a NY chain.

why wll it close? what wll it become.

Here is the article about its closing.

http://www.nhregister.com/business/20170317/jc-penney-at-connecticut-post-in-milford-mall-to-close

[retailisking]

But only for six weeks; the stores will close by July 31
http://www.cnbc.com/2017/04/13/jc-penney-postponing-store-closures-and-liquidation-sales.html

[retailisking]

Some of the locations are head-scratchers, like the one in the dead Steeplegate Mall in Concord, NH
http://clark.com/shopping-retail/major-change-jcp-sephora/

[Zayre88]

Some of the locations are head-scratchers, like the one in the dead Steeplegate Mall in Concord, NH
http://clark.com/shopping-retail/major-change-jcp-sephora/

I don't get it either...

[retailisking]

Store #26 dates back to 1911; it is no more.

[giantsfan2016]

JCPenney is launching an in-store toy shop in their brick and mortar stores for the XMAS season. Kids will be able to play in the area.

http://www.wfsb.com/story/35882495/jcpenney-launching-in-store-toy-shops-this-christmas

[zonemad96]

So is it going to be a enclosed store inside a store like how they did with Sephora? If so that sounds pretty cool.

[MikeinBuffalo]

I dunno, "Penny's is where the toys are" doesn't have the same feel.

[TheFugitive]

JC Penney announces eight additional store closings.

http://www.msn.com/en-us/news/msn/jcpenney-is-closing-8-stores-%e2%80%94-heres-where-they-will-shut-down/ar-BBJb65N

[retailisking]

After another lousy quarter, CEO Marvin Ellison has departed to take charge of Lowe's. Ellison was popular within JCP but struggled to turn the company around.
https://www.retaildive.com/news/breaking-jc-penney-ceo-leaving-for-lowes/524069

[retailisking]

https://www.usatoday.com/story/life/allthemoms/2018/08/09/j-c-penney-open-500-baby-shops-amid-babies-r-us-demise/951635002/

[retailisking]

It's not looking good...
https://nypost.com/2018/08/16/jcpenneys-stock-plunges-to-lowest-levels-since-great-depression/

[mixedday]

As it is struggling, I wonder if JCPenney will be more receptive (than Sears) to selling a number of it's existing stores.

It sold it's store in Owings Mills Maryland to Kimco:
https://www.cpexecutive.com/post/kimco-to-build-110m-replacement-mall-in-baltimore-area/

Originally, I was surprised as I thought JCPenney could be a central anchor to the redevelopment project over there rather than closing shop for cash. But the cash is hard to pass on. Indirectly, it might have helped it's White Marsh and Columbia, MD stores. Now, I think Columbia's site (an A mall) could be sold to Bloomingdale's or the mall owner (GGP) as an example of where it could garner some cash.

[danfifepsu]

As it is struggling, I wonder if JCPenney will be more receptive (than Sears) to selling a number of it's existing stores.

It sold it's store in Owings Mills Maryland to Kimco:
https://www.cpexecutive.com/post/kimco-to-build-110m-replacement-mall-in-baltimore-area/

Originally, I was surprised as I thought JCPenney could be a central anchor to the redevelopment project over there rather than closing shop for cash. But the cash is hard to pass on. Indirectly, it might have helped it's White Marsh and Columbia, MD stores. Now, I think Columbia's site (an A mall) could be sold to Bloomingdale's or the mall owner (GGP) as an example of where it could garner some cash.

I hope JC PEnny doesnt die as that will cripple some malls. But its better off than Sears. It has time to right itself.

[retailisking]

JCPenney has a new CEO

https://www.dallasnews.com/business/retail/2018/10/02/jc-penney-names-retail-veteran-jill-soltau-new-ceo

[mixedday]

Is JCPenney in a decent enough financial condition to consider relocating stores, if not opening new ones?

The one I had in mind is at Hamilton Mall in Mays Landing, southeast NJ - mall serving Atlantic and Cape May counties. I think the Sears site (which is closing Nov 25th) is a better anchor position than the JCPenney site. The Sears site is better highway facing. I suppose it’s important when JCPenney has to compete against Walmart and other retailers to stand out. That area is sandwiched between two Walmart Supercenters and JCPenney has Macy’s and Target as competitors nearby with Macy’s being the other surviving mall anchor.

In the past, the anchors with best accessibility tended to succeed. I also think the Neshaminy mall Sears (slated to close) is a better site than Boscov’s site but Boscov likely wouldn’t bother relocating there. Macy’s and JCPenney operate at Oxford Valley mall.

[danfifepsu]

I fear of JC Penny going under! as that with SEars gone will cripple many malls. JC Penny is doing better than Sears and has more merchandising plans than they do and not closing stores at an alarming rate like Sears / Kmart or closing stores as leases expire.

[retailisking]

At least one researcher thinks a bankruptcy filing will happen sooner rather than later due to low recoveries by vendors in the Toys R Us and Sears bankruptcies and bad management decision-making
https://seekingalpha.com/article/4223830-j-c-penney-file-bankruptcy-sooner-expected

[TheFugitive]

JC Penney has announced another round of 70 store closings.

https://www.msn.com/en-us/money/companies/jc-penney-to-close-more-stores-as-sales-deteriorate/ar-BBUczmV?ocid=spartanntp

The list is not out yet, but I would be shocked if the one located at the train wreck
that is Century III Mall is not among them.

[retailisking]

Only 27 stores are closing (18 full-line stores, 9 home and furniture stores.) The 70 figure is the percentage drop in quarterly earnings.
https://www.dallasnews.com/business/retail/2019/02/28/jc-penney-beats-profit-close-27-stores-new-ceo-even-convinced-potential

[mixedday]

I've read that JCPenney will be closing
-Lakeforest Mall (Gaithersburg, MD)
-Hamilton Mall (Mays Landing, NJ)

Both of these are challenged sites, but I think there are more in NJ/MD in weak centers, including
-Eastpoint Mall (Baltimore area)
-Marley Station Mall (Baltimore area)
-Monmouth Mall (Eatontown, NJ)

In Baltimore, it could just operate at Columbia and White Marsh and sufficiently serve the market. Columbia is an A mall, between DC and Baltimore, and White Marsh is a B+ center servicing the northern/northeast side of the Baltimore market.

[shore72]

Marley Station, I would say, is at a tipping point. The loss of another anchor could be a death sentence. A shame because it's not a bad facility.

[TheFugitive]

Interestingly JC Penney says that they will NOT be releasing a comprehensive list of stores being closed.

I guess they feel that when Sears repeatedly did so it became a self-fulfilling death spiral prophecy.
Word will surely trickle out in the local press where these closings happen though.