JCPENNEY'S CLOSURE LIST WON'T INCLUDE AREA STORES

JCPenney Co. Inc. stores at Cape Girardeau, Sikeston and Poplar Bluff are expected to remain open following the company's announcement that a number of stores will close.

Penney officials at Plano, Texas, announced Thursday afternoon the company would close 44 under-performing department stores and three catalog outlet stores, which occupy approximately four million square feet.

The latest cuts will eliminate about 5,500 jobs, or 2 percent of its work forces. The majority of the stores will close in the next six months.

"No Missouri stores were on the initial list," said Don Fisher, manager of the local JCPenney in Westfield Shoppingtown Center. "Things continue to look good at the Cape Girar-deau store."

Three of the stores on the closure list were in Illinois -- at Danville Village Mall; Mt. Prospect Randhurst Center and St. Charles Charlestone Mall.

A JCPenney Co. spokesman said a number of store employees would be offered other jobs.

Penney has been in a year-long slide amid tough competition from discounters and trendier retailers. Analysts blamed the company's prior management for failing to respond to changes in consumer tastes.

In the third quarter of last year, Penney suffered $23 million in operating losses and officials have said the holiday season was marred by disappointing sales.

Chairman and chief executive Allen Questrom, who took over in September, tried to assure investors and employees that the company remains strong. He called the restructuring "an important step in our plan to improve future performance."

JCPenney owns about 1,150 department stores and 2,900 Eckerd Drug stores.

JCPenney is one of America's largest department store, drugstore, catalog, and e-commerce retailers employing more than 290,000 associates.

The Associated Press contributed to this report.