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J.C. Penney Co. will close 40 stores over the next year, the company announced Thursday. The closures represent nearly 4% of J.C. Penney's 1,060 stores.
Macyâs Herald Square store in New York. (Chris Hondros/Getty Images) Department store giant Macyâs said Thursday it plans to close 100 stores, a dramatic step that is aimed at helping the chain get ahead of a potentially crippling problem: America, executives say, has too many stores for the online shopping era.