J.C. Penney said Thursday it will close about 40 stores over the next year, NBC News reported. The closures, which represent nearly 4 percent of the 1,060 Penney U.S. stores, will affect about 2,250 employees, according to a company spokesman. Most locations will close on or about April 4. Penney's stock was down about 2 percent in early trading Thursday. By shuttering underperforming stores, retailers are able to cut costs in an environment when more sales are taking place online.
