ColumnistsApr 07, 2026
Peter Smith: A Tip to the Post Office on Workplace CultureSmith recounts a recent trip to the post office that included an uncomfortable, embarrassing, and public exchange between two employees.
MajorsFeb 28, 2017
JC Penney to Close 13-14% of Its Stores
Over the next few months, it also will shut down two distribution facilities as part of a plan to improve profitability.
Retailer J.C. Penney announced last week that it will close 130 to 140 of its stores across the country, though it has yet to release details about where said stores are located.
Plano, Texas--J.C. Penney said it will close 130 to 140 stores over the next few months, continuing a trend of major department stores scaling back on physical locations.
The retailer said it will release the list of exactly which stores will close in mid-March once all affected personnel have been notified. The bulk of the stores are expected to close in the second quarter.
The stores identified for closure either would require significant capital to be updated to the new brand standard or are minimally cash flow positive relative to the company’s overall consolidated average, J.C. Penney said in a news release. The company said instead it will focus on “redirecting capital resources to invest in locations and initiatives that offer the greatest revenue potential.”
J.C. Penney said the total store closures represent approximately 13 to 14 percent of its current store portfolio, less than 5 percent of total annual sales, less than 2 percent of EBITDA (earnings before interest, tax, depreciation and amortization) and 0 percent of net income.
The annual cost savings resulting from the closures are estimated at approximately $200 million.
Though J.C. Penney did not release the total number of employees affected by the closings, the company said that it will initiate a voluntary early retirement program for approximately 6,000 eligible associates.
A company spokesperson also told National Jeweler they expect a net increase in hiring, as the number of full-time associates expected to take advantage of the early retirement incentive will exceed the number of full-time positions affected by the store closures.
As a result of the store closings, J.C. Penney also will shut down two distribution centers. It will close its Lakeland, Florida center in early June, at which time operations will transfer to the logistics facility in Atlanta, and also is in the process of selling its supply chain facility in Buena Park, California.
The announcement of store closures is just the latest among department stores that are seeing lagging sales.
Others to announce mass store closings include Macy’s and Sears.
J.C. Penney also has released its fourth quarter and full-year results.
Comps for the three-month period ended Jan. 28 were down about 1 percent as were net sales, to $3.96 billion, but J.C. Penney noted that fine jewelry, along with home, Sephora and salon, was one of its top-performing merchandise divisions during the quarter.
Meanwhile, for the 12-month period, comps were flat and
net sales were down 1 percent to $12.54 billion.
However, J.C. Penney delivered a net profit last year, marking the first time it has done so since 2010.
For the 2017 full year, comps are expected to be in the range of a 1 percent decline to a 1 percent increase.
However, J.C. Penney delivered a net profit last year, marking the first time it has done so since 2010.
For the 2017 full year, comps are expected to be in the range of a 1 percent decline to a 1 percent increase.
The Latest
GradingApr 07, 2026
GIA CFO David Tearle to Retire in June John Cowley, who has more than 30 years of experience, is succeeding Tearle as the lab’s chief financial officer.
CollectionsApr 07, 2026
Nerd Out Over Gemology Geek’s First Jewelry CollectionFounder Erica Silverglide has designed 35 colorful pieces set with fluorescing gemstones for the brand's first finished jewelry offering.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsApr 07, 2026
Ukrainian Jewelers Highlighted In New Book“Ukrainian Jewelry | Contemporary Jewelry and Art Jewelry from Ukraine” features 33 contemporary Ukrainian designers and studios.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 06, 2026
Fope’s New Jewelry Debuts Are Golden“The Golden Now” campaign celebrates the here and now with the brand’s signature styles and a selection of its new pieces.
CollectionsApr 06, 2026
Historian Tanzy Ward Pens Book on Black Victorians’ JewelryThe antique jewelry dealer talks about the importance of including Black Americans in jewelry history and preserving their stories.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
SourcingApr 06, 2026
Gemfields Reports $51M Loss in 2025Both its mines faced challenges last year, from operational issues to disruptions in the market.
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
