Please ensure Javascript is enabled for purposes of website accessibility

J.C. Penney Launches Major Liquidation Sales at 136 Stores Today

By Rhian Hunt – Updated Jun 17, 2020 at 8:08PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Products in most categories are marked down by as much as 40%.

As J.C. Penney (JCPN.Q) continues to maneuver through the complexities of Chapter 11 bankruptcy and its efforts to streamline its operations back into a financially sound business, 136 of its stores, earmarked for closure, began liquidation sales today. At the same time, the few remaining stores still closed due to COVID-19 are in the process of reopening for customers, with nearly 100% of the company's North American outlets currently operational.

As part of its Chapter 11 reorganization, J.C. Penney is planning to close 242 of its stores in total. The closures will occur in several waves during 2020 and 2021, targeting mostly outlets producing less than average sales or having other disadvantages, such as poor location. Whether the closure plan will be affected by a potential buyout of the retailer by its landlords or other third-party purchasers remains to be seen.

"Going out of business sale" sign on a truck.

Image source: Getty Images.

The 136 stores beginning their liquidation sales today are listed on the J.C. Penney blog for customer convenience. Most products at the locations are marked down anywhere from 25% to 40% off their regular retail prices. Fine jewelry and window treatments are discounted 40%, while the maximum discount on sunglasses and swimwear is 30%.

The company said, "Due to the name recognition and goodwill of this brand, we encourage consumers to shop early to take advantage of the best selection of products as we expect merchandise to sell very quickly." From June 25 forward, all sales will be considered final, with no returns possible from that point. Salons in the closing stores will continue to operate through mid-August, though this may vary by location depending on health department rules or the speed of closure.

Rhian Hunt has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

J. C. Penney Company, Inc. Stock Quote
J. C. Penney Company, Inc.

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 10/02/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.