1. JC Penney
Today, thanks to online shopping, many customers can get whatever they need through their computers, instead of dressing up and driving over to a department store. That’s why many department stores in the United States are massively scaling back on the number of their retail locations.
While JC Penney was a staple of fashion malls and shopping centers for decades, it has recently been experiencing a massive drop in sales. As a result, the company closed nearly 30 stores last year. And, according to reports, JC Penny will close even more stores in 2020 and the coming decade. It seems the day of reckoning has finally arrived for department stores!