July 8, 2015

JC Penney to close store at Salisbury Mall

Published 12:00 am Wednesday, March 20, 2013

SALISBURY — J.C. Penney will pull out of the Salisbury Mall this summer and close its store for good, employees confirmed today.
The retail giant’s departure from the mall has been rumored for months, following plans by Belk and Big Lots to leave the troubled shopping center. Both Belk and Big Lots will relocate near Interstate 85 this year.
J.C. Penney will close in early August and not relocate, employees said. The store employs about 35 people, most part-time.
Mall owner Igal Namdar could not immediately be reached for comment. His Namdar Realty Group, a New York real estate company, bought the mall for $2.5 million last year after it went into foreclosure.
Badcock Furniture recently signed a 10-year lease to fill the long-vacant Goody’s location in the mall, starting this summer. The Mulberry, Fla.-based company with about 40 stores in North Carolina could not immediately be reached for comment about J.C. Penney’s departure.
J.C. Penney’s decision to close its doors in Salisbury comes after a one-two punch of the falling mall occupancy rate and the corporation’s own financial struggle.
The Plano, Tex.-based department store chain reported a net loss of $552 million for its fourth quarter.
Total sales for the fourth quarter decreased 28.4 percent to $3.884 billion. Comparable store sales declined 31.7 percent. Internet sales through jcp.com were $315 million in the fourth quarter, decreasing 34.4 percent from last year.
For the full fiscal year ending Feb. 2, J.C. Penney reported a net loss of $985 million or $4.49 per share.
The Salisbury Belk plans to move this fall to a new store under construction on Julian Road. Big Lots is scheduled to relocate to the refurbished Office Depot building on East Innes Street.
Read more in Thursday’s Post.

Contact reporter Emily Ford at 704-797-4264.

Comments

comments

News

Non-profit group will have rabies clinic at animal shelter

News

Three incumbents bow out in Salisbury City Council race

News

Correction

David Freeze

David Freeze: A chance meeting changes the day

Local

Council approves $69,026 in grants to Benchwarmers renovation, expansion

Local

Posters July 8

Check this out

Robin Sage military training in our area July 15-Aug. 4

Crime

Blotter: Cellphones, cash stolen in overnight break-in from Cricket Wireless

Local

One Church One Child outreach program in need of baby items

Local

People with concerns about Confederate monument say it’s time to talk

News

Salisbury Mayor Paul Woodson will not seek re-election

Crime

Salisbury man charged with car break-in, buying hundreds at Walmart with stolen credit card

Local

Two men killed after being struck by trains in separate accidents

Local

After years, Commissioners vote to join Thread Trail by slim margin

News

Municipal Election races begin to take shape

News

Commissioners hire firm for speculative buildings

David Freeze

David Freeze: A Civil War day and more

Granite Quarry

DOT says contractor’s street work in Granite Quarry ‘not up to par’

Education

Kannapolis school board names replacement for Millie Hall

Food

100 wedding cupcakes: A big order for a reporter

East Spencer

East Spencer to hold community meeting for bike, pedestrian plan

Crime

Blotter: Mother, daughter charged after traffic checkpoint stop

Local

Spencer Police ID man struck, killed by train

Local

Salisbury man killed late Sunday after being struck by train