JCPenney Closure In South Jersey: Who's Next?

JC Penney announced this week that it's closing 18 stores, and New Jersey will feel the impact. And other retailers may follow suit.

JCPenney confirmed that it will be closing its store located at the Hamilton Mall in Mays Landing on July 5. The anouncement came a year after Sears announced that it was closing its store at the 4409 Black Horse Pike location. Read more: Another Sears Closing In NJ: Important Dates

The announcement also comes just after Victoria's Secret announced this week that it will shutter 53 underperforming stores in North America this year. Read more: Victoria's Secret To Close Dozens Of Stores

The decision comes as a result "of an ongoing review of our store portfolio, which includes assessing locations that may not meet our required financial targets or represent an opportunity to capitalize on a beneficial real estate asset," said Carter English, a spokesman for JCPenney.

"It’s never easy taking actions that directly impact our valued (employees) and customers," he said. "However, we feel this is a necessary business decision."

Employees who do not transfer to another JCPenney location will receive separation benefits, and all those impacted may participate in a three-hour on-site career training class, English said. The class offers tips on resume writing, answering interview questions and more.

JCPenney has 12 stores in New Jersey, but no others are being closed.

JCPenney has determined that it will close 18 full-line stores in 2019, including three locations previously announced in January. In addition, the company will also close nine ancillary home and furniture stores, enabling capital resources to be reallocated to locations and initiatives "that offer the greatest long-term value potential."

“For the past few months, I have met with and listened to JCPenney associates throughout the organization, as well as our valued suppliers, customers and other partners, to gain their candid perspectives on our Company, both positive and constructive. Based on everything I have seen and heard, I am even more convinced that JCPenney is a revered brand that has the capacity to deliver improved results. In spite of our past financial performance, we have already taken meaningful steps to drive improvement in key businesses such as women’s apparel, active apparel, special sized apparel and fine jewelry,” Jill Soltau, chief executive officer of JCPenney, said in a statement.

Victoria's Secret, meanwhile, reported disappointing holiday season sales and "given the decline in performance at Victoria's Secret, we have substantially pulled back on capital investment in that business versus our history,'' the company said in a statement.

The company has stores in 27 New Jersey communities including:

• Atlantic City
• Bridgewater
• Cherry Hill
• Deptford
• East Brunswick
• Eatontown
• Edgewater
• Edison
• Elizabeth
• Freehold
• Jersey City
• Lawrenceville
• Livingston
• Marlton
• Mays Landing
• Moorestown
• Paramus
• Phillipsburg
• Rockaway
• Sea Girt
• Short Hills
• Shrewsbury
• Toms River
• Vineland
• Wayne
• Woodbridge
• Woodcliff Lake