U.S.-based retailer J.C. Penney was planning to close 138 locations across the county until mid-June, including ones at North Shore Square mall in Sidell, Cortana Mall in Baton Rouge, as well as Park Terrace Mall in DeRidder, according to Nola.
However, the recently registered sales, better than expected, made the retailer postpone the moment with a few more weeks, says the same source!
Special prices, starting with May 22!
It seems that the liquidation sales were supposed to begin this Monday, but J.C. Penney announced that it was rescheduled for May 22.
A spokeswoman declared that one of the main reasons behind this decision was the shoppers’ unexpected response to the announcement regarding the 138 stores expected to be closed, made back in February.
“Ever since the company announced its store closure list, those stores have seen better than-expected sales and traffic,” declared Daphne Avila.
“This is not an uncommon response when you announce a store closure,” she added. “Local shoppers will come out for a variety of reasons – some out of nostalgia and some who are just looking for a great deal.”
J.C. Penney expected the closures to allow them save around $200 million a year, which will have a small impact in their attempt to reduced the $4.3 billion currently registered in long-term debt.
Online shopping kills physical stores
This isn’t the first time when a big-box retailer is forced to shut down several stores, as this can already be considered a ‘negative trend’ among such companies, happening as a result of the continuous growth of online shopping in 2017.
One the other side, Penney CEO Marvin Elison is still confident that physical stores still have a future, as they offer shoppers a chance to actually try the items, besides serving as spots for picking up, distributing, as well as returning items.
Macy’s and Sears are also shutting down their stores from various shopping centers across the United Stated, basically adjusting to shoppers’ changing tastes, as well as the above mentioned shift to online shopping.
