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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.
Reviews such as these are essential in meeting our long-term goals for future company growth, a spokesman said. A year ago, Penney said it would close 33 stores across the country and cull about 2,000 jobs. After the newest round of closures, Penney will have about 1,020 locations in 49 states and Puerto Rico.