J.C. Penney Co. announced it would close between 130 and 140 stores and two distribution centers in Florida and California in a move the retailer believes will help bring the company back to profitability.
The locations of the stores will be announced in mid-March and close in the second quarter, saving the company a reported $200 million annually, according to a story in the Milwaukee Business Journal.
J.C. Penney operates over 1,000 retail locations across the U.S. and Puerto Rico. Madison has two.
