• 41°

JC Penney to close store at Salisbury Mall

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 closed.

Local

Lanning named Spencer’s fire chief

Crime

Blotter: Feb. 26

Crime

Salisbury, Kannapolis men charged with soliciting sexual acts

News

Racial bias ‘deeply entrenched’ in report critical of Apex Police Department

Nation/World

US bombs facilities in Syria used by Iran-backed militia

Elections

City council again dismisses idea of adding new member, focus now on recommendation to delay elections

Business

‘Let’s make some money:’ Loosened restrictions praised by bar owners, baseball team

High School

Salisbury High bucks historical trend in dominant shutout of West Rowan

Enochville

Garage declared total loss after Enochville fire

Crime

Cooper, N.C. prison officials agree to release 3,500 inmates

Coronavirus

Two more COVID-19 deaths reported in Rowan, six for the week

Crime

Blotter: Man brandishes AR-15, runs over motorcycle at Rockwell-area gas station

Crime

Salisbury man charged with exploitation of minor

Crime

Road rage incident results in assault charges

Local

Dukeville lead testing results trickle in, more participation needed

Education

Faith Academy interviewing staff, preparing site for fall opening

News

Volunteers work around obstacles, alter procedures to offer free tax services to those in need

Education

Education shoutouts

Local

Retired Marine gets recognition for toy collection efforts

Local

March issue of Salisbury the Magazine is now available

Education

Five get Dunbar School Heritage Scholarships

Education

Education briefs: Salisbury Academy fourth-graders think big as inventors

Education

Bakari Sellers keynote speaker at Livingstone College Founder’s Day program

Nation/World

Biden aims to distribute masks to millions in ‘equity’ push