Macy's Inc
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Macy : St. Cloud keeps J.C. Penney store

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03/18/2017 | 04:59 am

March 17--The Crossroads Center J.C. Penney store will remain open as stores close across the nation in a cost-cutting move.

A list published Friday morning by CNBC includes eight Minnesota stores slated for closure. Those are in Faribault, Baxter, Winona, Fairmont, Hibbing, Hutchinson, Red Wing, Thief River Falls.

The company said several weeks ago that it would be closing more than 130 stores over the next few months and offer buyouts to 6,000 workers as the department-store industry competes online sellers.

The cuts come amid mounting challenges for once-stalwart department store chains such as Macy's and Sears, which are also aggressively closing stores to shed costs as shoppers flock to alternatives.

Macy's recently announced plans to cut 100 of its 675 full-line stores. Sears said it plans to close 150 stores, including 108 Kmart locations, leaving it with more than 1,300.

Online competition, fast-fashion retailers such as H&M and Forever 21 and discounters such as T.J. Maxx have undermined Penney's business. Ellison said the company is responding by overhauling its products.

This report includes information from USA TODAY.

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(c)2017 St. Cloud Times (St. Cloud, Minn.)

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