On the heels of Sears' announcement last month that it will close over 100 stores nationwide, another department store has made the same difficult decision. J.C. Penney has announced that it will close 130-140 stores and two distribution centers. Fortune reports that the retailer shutter the locations over the next few months. CEO Marvin Ellison told CNBC Shares of J.C. Penney have fallen 1.9 percent in pre-market trading Friday.
