J.C. Penney Co. Inc. (NYSE: JCP) told CNBC iit will put off closing some of the 138 stores it said it would shutter. Originally, the locations were to close starting April 17. That has been pushed to May 22. It is not clear whether some of the stores will eventually be kept open.
According to CNBC:
“Ever since the company announced its store closure list, those stores have seen better-than-expected sales and traffic,” J.C. Penney spokeswoman Daphne Avila said.
“This is not an uncommon response when you announce a store closure. Local shoppers will come out for a variety of reasons — some out of nostalgia and some who are just looking for a great deal.”