NEW YORK, June 30, 2026, 13:11 EDT
- JCPenney plans to shutter or has already closed at least six locations in six states by 2026, which is less than 1% of its most recent U.S. store total.
- Fast Company says the private chain has shrunk its store count by roughly 24%. It had 846 stores at the start of 2020. That’s down to 641 locations this week, according to public filings and store-locator data.
- The news lands with mall landlords and retail investors like Simon Property Group NYSE:SPG and Brookfield Corporation NYSE:BN. There’s no impact on JCPenney equity, which isn’t listed anymore.
- Simon dropped 1.2% at midday in the U.S., while Brookfield gained 1.3%.
JCPenney is shutting or set to shut at least six stores this year, according to Fast Company, which cited local news, customer reviews and the chain’s website. Stores are closing in California, Florida, Illinois, Tennessee, Virginia and Pennsylvania. It’s a small list, but could matter more for mall owners.
JCPenney is shutting down its Ross Park Mall location near Pittsburgh after 40 years, with the store set to close Sept. 20. The U.S. Sun said Tuesday that closing sales have kicked off, offering 20% off everything, and some items getting marked down as much as 40%. WTAE reported, citing JCPenney, that the company couldn’t keep its lease or find another spot in the area.
JCPenney, now a private company, operates as part of Catalyst Brands, a joint venture set up in 2025 by JCPenney and SPARC Group. When it launched, the company said Catalyst had over $9 billion in revenue, 1,800 stores, 60,000 staff, and $1 billion in liquidity. Simon Property Group and Brookfield Corporation are among its shareholders.
| Measure | Latest comparable data | Investor read |
|---|---|---|
| JCPenney store count | 641 this week, down from 846 as of Feb. 1, 2020 | Down around 24%. Most of the post-bankruptcy closings already happened. |
| Known 2026 closures | At least 6 stores | Represents about 0.9% of stores, but several are anchors in malls. |
| Simon U.S. mall and outlet occupancy | 96.0% as of March 31, up slightly from 95.9% last year | Occupancy held up while anchor locations changed hands. |
| Simon base minimum rent | $61.99 per square foot, up 5.2% year over year | Rising rents give Simon some room to manage anchor turnover. |
| Simon other platform investments NOI | Q1 loss of $84.1 million, compared to $41.5 million loss a year ago | This segment, with Catalyst Brands, Rue Gilt Groupe and Jamestown, more than doubled its operating loss. |
Simon CEO Eli Simon said in May the portfolio turned in “strong operating performance” and that leasing momentum had continued. The company bumped up its 2026 full-year real estate FFO outlook to $13.10 to $13.25 a share and raised its quarterly dividend to $2.25. Simon Property Group, L.P.
That’s why JCPenney’s closure list is important for investors. Shuttered stores may mean lost rent, redevelopment bills or, in some cases, a shot at a better lease down the line. At Simon’s top malls, the focus is on how fast management can fill those empty department store spaces. But at lower-tier malls, when an anchor like JCPenney closes, it can hurt foot traffic and trigger co-tenancy problems with other tenants.
| 2026 site | Status or trigger | Public-market link |
|---|---|---|
| Stoneridge Shopping Center, Pleasanton, California | JCPenney shut down in February over lease issues; Fast Company includes it in 2026 closures. | Simon still shows Stoneridge as part of its center lineup. |
| Seminole Towne Center, Sanford, Florida | JCPenney sold the 122,758-square-foot property for $7 million; redevelopment includes apartments, hotel, and a Costco Wholesale NASDAQ:COST. | Reuse leans toward mixed-use, not retail-focused recovery. |
| Ford City Mall, Chicago | JCPenney closed after a court-ordered shutdown over mall safety risks. | Namdar Realty Group owns the property, but there’s no public landlord exposure confirmed. |
| RiverGate Mall, Goodlettsville, Tennessee | JCPenney was the last anchor to leave what was once the main mall, according to local reports. | Site is linked to a big private redevelopment project. |
| Springfield Town Center, Springfield, Virginia | JCPenney closed in May, 74 jobs cut; local press says DICK’S Sporting Goods NYSE:DKS may take over with House of Sport. | The incoming tenant may have more impact than JCPenney’s exit. |
| Ross Park Mall, Pittsburgh area | JCPenney is set to close Sept. 20 after not reaching a lease deal. | Simon owns both the mall and a stake in Catalyst, so this is a test of both landlord and retail strategy. |
JCPenney sales stayed weak, with net sales for fiscal 2025 down over 5% to $6 billion, Retail Dive reported June 1. The retailer closed the year with a $173 million net loss. Neil Saunders at GlobalData said JCPenney “lost relevance” during the holidays and that getting back to profit will be a “very tall order” while sales keep sliding. Retail Dive
Store closures aren’t hitting evenly. Sanford is being redeveloped. Ford City is shutting because of safety issues at an old mall. At Ross Park, it’s about a lease reset in a better Simon property. That’s the story: older JCPenney spots might signal trouble, but in top spots they also let landlords reprice.
