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It'll be interesting to see this list. There is one in a mall near me that has three other anchors: Macy's, Dillards, and Sears. The Macy's is currently in the process of closing, the Dillards doesn't show any imminent signs of distress but it never seems particularly busy, and Sears... well, they're Sears, and add to that it was one of the Sears involved in that recent sale-leaseback, in which Sears sold the store to the mall and will be leasing it (basically a long-term store closure plan). If they happen to be losing the JC Penney, I think that would be the deathblow to the mall.

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“We understand that closing stores will impact the lives of many hard working associates, which is why we have decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates. By coordinating the timing of these two events, we can expect to see a net increase in hiring as the number of full-time associates expected to take advantage of the early retirement incentive will far exceed the number of full-time positions affected by the store closures,”

Initiating a voluntary early retirement program for 6,000 people. I love this corporate double-speak, they don't want to say they're laying off people, the "eligible associates" will be "retiring". Who believes this crap?

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"we can expect to see".... LOL we are doing this for your own good... if it's true or not.

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The writing has been on the wall for some time for these types of stores. Online retailers have been taking more and more business from "Brick and Mortar" stores with their expensive overhead. The same thing is going to happen to Kmart /Sears. .etc. It's a Free Country and you can blame it on whoever you want, but it doesn't help the situation or do anyone any good. Ultimately, it's called "Change". It's happened since the dawn of time and will continue after we're all long gone regardless of who is in office.

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Due to this escalating into a political conversation, this thread is now under moderation.

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HRJ77 said:   The writing has been on the wall for some time for these types of stores. Online retailers have been taking more and more business from "Brick and Mortar" stores with their expensive overhead. The same thing is going to happen to Kmart /Sears. .etc. It's a Free Country and you can blame it on whoever you want, but it doesn't help the situation or do anyone any good. Ultimately, it's called "Change". It's happened since the dawn of time and will continue after we're all long gone regardless of who is in office.
Totally agree.  There are retaliers who have changed and adapted their tactics to stay relevant and attract foot traffic. The ones who haven't, we read about in the paper every quarter.  Take WalMart, for example.  They could have hidden, been afraid of the internet, etc.  Instead they charged into trying new things with Target, albeit far behind Amazon as they don't have the legacy brick and mortar.  WalMart, politics aside, is doing financially just fine. Some companies have ugly, barely usable websites (let alone mobile sites or apps) and it's 2017.  The internet has been around for 20+ years! 

As a retailer, you have to provide value beyond just a point of sale. If your in-store experience isn't exciting, functional and driving greater brand loyalty just close it and operate web-only.

 

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I remembered when they brought in a former Apple design guy to run JC Penney's. The store layout was definitely less cluttered but most importantly, I failed to see how the merchandise differed from anything else I've seen. Ultimately when I buy something, I am looking at the necessity, quality, and pricing for the particular product. All other aspects are fluff I don't want to pay for. Both times I've been to the physical store there were no foot traffic.

If a store or mall is going to fail, fail fast and let the market dictate the replacement. Just glad I didn't do a 1031 exchange into a triple net shopping mall otherwise I would be kicking myself hard for a long time. That business is going to be dead.

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athwong said:   Just glad I didn't do a 1031 exchange into a triple net shopping mall otherwise I would be kicking myself hard for a long time. That business is going to be dead.
Not if they can reinvent to lifestyle spaces - restaurants, interactivity, services, arts. The malls that are doing that transformation seem to be faring better.  

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In the last 10 years, we only have been in a JC Penny store about 3 times, and all 3 were when they had some coupon deal we got about $20 each for free.
I remember it being very hard to find something we wanted to use the coupon deal on.
For us, Kohls is far better, and a lot easier to get a parking spot since the Pennys were in Malls.
We are not going to miss JC Penny at all

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LORENW said:   In the last 10 years, we only have been in a JC Penny store about 3 times, and all 3 were when they had some coupon deal we got about $20 each for free.
I remember it being very hard to find something we wanted to use the coupon deal on.
For us, Kohls is far better, and a lot easier to get a parking spot since the Pennys were in Malls.
We are not going to miss JC Penny at all

  
Kohls and JC Penny seem very similar to me.  I wouldn't be surprised to see Kohl's go under in a few years also.  HRJ77 said it right.  Not only are brick and morter stores being killed by online retailers, they are being destroyed by online retailers who don't know what they are doing.  They will start an online business then have no idea how to properly calculate margins and have no ability to absorb inventory holding costs, so they start huge sales, which other retailers must match creating a huge race to the bottom.  It is no surprise that the stores with the huge overhead costs are affected first.

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