J.C. Penney said Thursday it will close about 40 stores over the next year.
The closures, which represent nearly 4 percent of the 1,060 Penney U.S. stores, will affect about 2,250 employees, according to spokesman Joey Thomas.
Penney's stock was down 1.8 percent in morning trading Thursday.
Most locations will close on or about April 4, Thomas said.
"We continually evaluate our store portfolio to determine whether there's a need to close or relocate underperforming stores," Thomas said. "Reviews such as these are essential in meeting our long-term goals for future company growth."