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JCPenney plans to shutter a store in North Texas later this year.
The Plano retailer will close its doors at Ridgmar Mall in Fort Worth on Nov. 1, according to a statement from the company.
"Regretfully, we are unable to continue our current lease terms for this store location and have been unable to find another suitable location in the market," the company said.
The department store chain, which is part of Catalyst Brands after a merger, is navigating a dynamic retail environment that has squeezed others in the industry amid shifting consumer tastes and the rise of online shopping. Neiman Marcus, now part of Exemplar Luxury Group, is planning to close sites in Plano and downtown Dallas after its parent company emerged from a recent bankruptcy.
JCPenney - while pushing efforts to draw customers - reported net sales declined more than 4% in the fiscal quarter ending May 2 from the year ago, a filing shows. Net losses narrowed.
The company has several other sites throughout the North Texas area, including Denton, Frisco, Flower Mound and Rockwall.
"We are grateful to our dedicated associates and the loyal customers who have shopped at our Fort Worth location through the years," the company said. "We hope to continue serving them at our other Dallas-Fort Worth locations and online."
Read this story on dallasnews.com
