The hits just keep on coming for department stores. Not long after Macy's closed its Carolina Place location as part of a significant reduction in stores, JCPenney has announced that it will be shutting down 138 of its locations, including six in North Carolina.
Eastridge Mall in Gastonia, Monroe Crossing Mall in Monroe, Albemarle Crossing in Albermarle, Blue Ridge Mall in Hendersonville, Boone Mall in Boone, and Becker Village Mall in Roanoke Rapids. JCPenney said it will begin liquidating those stores on April 17th and close them by June 30th.
Americans' shopping habits have definitely changed in the 21st Century. With more ways to get what you want without leaving the house, i.e. online shopping, brick-and-mortar stores have been taking it on the chin. The traditional department stores appear to be the retailers who are suffering the most.
Each year, the National Retail Federation releases sales statistics for all of the major American retailers. The highest ranking department store on the 2016 list is Macy's at #15. Their U.S. sales growth dropped 3.7% from 2014 to 2015. JCPenney is 39th on the list. Below are the highest-performing retailers in the U.S. It's good to see a local company crack the top ten:
2. Kroger (They own Harris Teeter)
7. CVS Pharmacy
10. Lowe's Home Improvement Warehouse (Headquarters in Mooresville)