JCPenney Shoppers Find Deep Discounts Amid Store Closures
The iconic department store is closing locations nationwide, offering significant markdowns on items ranging from jewelry to home goods.
JCPenney is offering substantial discounts to shoppers as it continues to close stores across the United States. The department store chain, once a staple in American malls, has been gradually reducing its physical footprint since 2020.
Following a bankruptcy filing in 2020, JCPenney announced plans to close hundreds of locations. Currently, the company operates 641 stores in the U.S., a significant decrease from its peak of over 2,000 locations in the 1970s. At the start of 2020, the number of stores stood at 846, according to Securities and Exchange Commission filings.
One confirmed upcoming closure is the Pittsburgh store located at 1006 Ross Park Mall Drive, Pittsburgh, PA 15237, which is slated to close in September. JCPenney has not yet provided an exact number of stores scheduled to close this year.
The closures are resulting in significant price reductions for consumers. Shoppers can find deals on items such as sterling silver or gold earrings, with a two-pair set marked down from $124.98 to $15, representing an 88% saving. A White Diamond 14K Rose Gold Over Silver Sterling Silver Heart Side Stone Cocktail Ring, originally priced at $436.89, is now available for $114, a nearly 75% discount. Additional clearance items can be found in categories like home, handbags, outerwear, and children's apparel, with special "$5 and under" and "$10 and under" sections on the company's website.
JCPenney's struggles reflect broader trends in the retail sector, often referred to as the retail apocalypse. Factors contributing to store closures include decreased foot traffic, high lease costs, and a shift towards online shopping. Other major retailers have also announced significant closures. Rite Aid filed for bankruptcy in October 2025, planning to close all its locations. Walgreens announced in 2024 its intention to shut down approximately 1,200 stores over the next three years. The banking sector has also seen considerable consolidation, with over 6,000 commercial bank branches closing in the past five years, disproportionately affecting low-income and rural communities. Major banks such as US Bank, Wells Fargo, Flagstar Bank, and Bank of America have all closed dozens of branches in recent years.