The J.C. Penney archive aperture abundance at Jamestown Mall is amid the food afflicted by the administration store’s advertisement on Monday that it will aing some stores, outlets and alarm centers and accomplishment closing its archive business.
The banker said the moves are advised to addition advantage and accumulate clip with customers’ accretion about-face to online purchases.
With J.C. Penney departure the archive business, all of its 19 archive aperture food including the abundance at Jamestown Mall will be affected, said Joey Thomas, a aggregation spokesman. “We’re reviewing options for anniversary of the locations,” he said. “That may accommodate closing stores, converting some of them to J.C. Penney stores, and affairs the aperture business to addition company.”
The 124,400-square-foot Jamestown Mall aperture abundance opened in 1999. Its approaching looks ambiguous accustomed that bisected of the retail locations in the arcade centermost are already vacant. A adviser assassin by the St. Louis County Economic Council recommended aftermost year that the mall’s acknowledged anchors — the J.C. Penney aperture and a Macy’s — be kept while the blow be burst to be replaced with a mixed-use “village.”
Thomas said there is no audible timeline for the changes, but said they would be formed out after this year and in 2012.
J.C. Penney has been alive to aing the archive business for some time, announcement in November 2009 that it would stop publishing its twice-yearly “big book” catalogs.
Chairman and CEO Myron E. Ullman III said during a appointment alarm that business started to about-face heavily abroad from archive to online about two years ago.
The aggregation had additionally faced abeyant burden from adamant shareholders — activist broker William Ackman of Pershing Square Management and Steven Roth of Vornado Realty Trust. Both Ackman and Roth are aing Penney’s board, the aggregation additionally appear on Monday.
Other changes accommodate closing six underperforming acceptable stores, two alarm centers, and one appliance outlet. J.C. Penney did not acknowledge how abounding jobs would be lost. The alternation runs added than 1,100 administration food in the U.S. and Puerto Rico.
The Associated Press contributed to this report.
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