123-year-old retail chain shuts down popular mall location | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

The holiday shopping season is off to its best start ever, as a record 202.9 million consumers shopped during the five-day November/December holiday weekend, from Thanksgiving Day on Nov. 27 through Cyber Monday on Dec. 1, the National Retail Federation and Proper Insights & Analytics said in a statement.

The number of shoppers surpassed last year’s 197 million shoppers during the 2024 Thanksgiving weekend and broke the previous record of 200.4 million shoppers that was set in 2023.

Thanksgiving weekend consumer shopping

Thanksgiving weekend 2023, 200.4 shoppers
Thanksgiving weekend 2024, 197 million shoppers
Thanksgiving weekend 2025, 202.9 million shoppers

“This year’s record turnout reflects a highly engaged consumer who is focused on value, responds to compelling promotions, and seizes upon the opportunity to make the winter holidays special and meaningful,” National Retail Federation CEO Matthew Shay said in a Dec. 2 statement.

A record-setting start to the holiday shopping season, however, won’t be enough to stop major retailers from shutting down store locations that no longer make sense to operate.

Retailers close stores despite record shopping season

Macy’s has already determined that it will close 66 underperforming stores in 2025 and about 150 stores by the end of 2026.

Another major department store chain has already closed several stores in 2025 and will also close at least one store in 2026.

JCPenney closed eight store locations in 2025 and already has plans to close another in 2026.

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JCPenney closes another store location

Longtime regional mall department store anchor JCPenney has revealed that it will close another of its stores, which is located in the Stoneridge Mall in Pleasanton, Calif., after closing eight stores across the country earlier this year.

JCPenney said the final business day at the Pleasanton store will be Feb. 22, 2026, KRON-TV in San Francisco reported. The company has not said whether employees will be offered positions at other San Francisco Bay Area JCPenney stores.

The retailer has locations in six other Bay Area cities, including Antioch, Concord, Fairfield, Hayward, San Jose, and Santa Rosa, Calif.

JCPenney unable to reach new lease agreement

The department store chain said it was “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 in a statement to KRON.

JCPenney already closed another Bay Area store in the Shops at Tanforan in San Bruno, Calif., in May 2025.

It also closed seven other stores this year, including locations at The Shops at Northfield in Denver; Pine Ridge Mall in Pocatello, Idaho; West Ridge Mall in Topeka, Kan.; Annapolis Mall in Annapolis, Md.; Asheville Mall, in Asheville, N.C.; Mall at Fox Run in Newington, N.H.; and Charles Town Center in Charlestown, W.V.

JCPenney 2025 store closings

Stoneridge Mall in Pleasanton, Calif.
Shops at Tanforan in San Bruno, Calif.
The Shops at Northfield in Denver
Pine Ridge Mall in Pocatello, Idaho
West Ridge Mall in Topeka, Kan.
Annapolis Mall in Annapolis, Md.
Asheville Mall, in Asheville, N.C.
Mall at Fox Run in Newington, N.H.
Charles Town Center in Charlestown, W.V.

The JCPenney closings preceded the sale of 119 properties by owner Copper Property CTL Pass Through Trust to private equity firm Onyx Partners Ltd. of Boston for $947 million in an all-cash transaction on July 23, 2025. The sale was set to close on Sept. 8, 2025.

More closings:

Copper Property was created to acquire 160 store locations and six warehouse distribution centers from JCPenney as part of the company’s Chapter 11 filing in 2020. The company closed about 200 stores through its bankruptcy.

JCPenney, founded as The Golden Rule in Kemmerer, Wyoming, in 1902, currently operates over 650 stores in the U.S. and Puerto Rico and employs over 50,000 workers.