The company will close department stores in Morrow, Ga.; West Dundee, Ill.; Des Moines, Iowa; High Point, N.C.; and Culpeper, Va. It will also close a home store in Duluth, Ga. All of these operations failed to meet the company's profit threshold.
Winding down the company's catalog business will result in the closing of 19 catalog outlet stores over the course of 2011 and 2012. In addition, Penney's furniture outlet business will be consolidated from three outlets to two, with the closing of a location in Rancho Cucamonga, Calif.
Call center operations will be closed in Grand Rapids, Mich., and Albuquerque, N.M., and consolidated to three existing facilities in Columbus, Ohio, Pittsburgh and Milwaukee.
Penney's custom decorating business will be consolidated from two facilities to one in Statesville, N.C., with operations in Sacramento, Calif., closed.
"We are focused on increasing profitability and accelerating our growth. To achieve this, we undertook a thorough evaluation of our operations to ensure we are managing costs and allocating our resources to the strategies that will best drive both our top and bottom line, with the objective of delivering enhanced returns to shareholders," said Myron E. "Mike" Ullman III, chairman and chief executive officer, in a release.
"It is always difficult to make decisions that impact our associates, and we are committed to treating them fairly," he added.
The company did not reveal how many jobs would be lost in these moves.
In other retail news, find out where famed couturier Christian Lacroix will now be working.