JC Penney Says Its Closing 130 Stores

(Plano, TX) -- JC Penney says it's closing over 130 stores over the next few months. 

The retail chain says it will also start a voluntary early retirement program for about six-thousand eligible employees. JC Penney says the stores being closed account for less than five-percent of the company's annual sales. Two years ago Penney closed its store in the Hudson Valley Mall near Kingston.

The company's net sales fell point-nine percent in the fourth quarter.

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Photo:  flickr, Sam Howzlt

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