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JCPenney has announced their first wave of 2020 store closings as part of their bankruptcy reorganizations.
You can see the entire list of 154 stores here, but it does look like seven stores in Texas are on the closure list. Here are those seven stores:
Timber Creek Crossing 6051 Skillman St Dallas, TX 75231 972-892-2050
Crossroads Mall 6834 Wesley St, Ste C Greenville, TX 75402 903-455-5252
West Hills Mall 2 Financial Plaza Huntsville, TX 77340 936-295-7571
Music City Mall 2401 S Stemmons Fwy, Ste 4000 Lewisville, TX 75067 972-315-3900
Lufkin Shopping Center 4600 S Medford Dr, Ste 2000 Lufkin, TX 75901 936-639-3251
Palestine Mall 1930 S Loop 256 Palestine, TX 75801 903-729-0103
Mirabeau Square 3560 Lamar Ave Hwy 82 Paris, TX 75460 903-785-1655
Typically when stores close, we actually see price INCREASES for awhile because liquidation sales start at only 10% off regular shelf prices.
That means 'store closing' sales don't automatically equal crazy good buys.
Here's how to shop the JCPenney going out of business sales and really save money.
Know what a good price really is. These store closing sales will often jack up the retail prices on items, even higher than what the store originally charged for them.
So a pair of shoes that might originally have cost $30 at JCPenney, for example, might now be on 'sale' for 25% off a new retail price of $39.98 -- which means you could be paying $29.98 for that pair instead. In other words, basically the same price as before!
I saw this phenomenon first hand back when Borders went out of business. The liquidation sales attracted customers who typically didn't shop the store, and therefore thought 10% off books or Blu-rays was a steal.
Regular customers, on the other hand, were used to snagging new releases for 30% or 40% off list price.
I will never forget talking to a cashier at that sale who said, "If these new customers had been this excited to shop us before, we never would be going out of business!"
Stick to your list. Decide in advance what sort of items you're interested in, and stick to browsing those sections.
This tip works whether you're a shopper who gets carried away by the thrill of the hunt, or you're a shopper who gets easily overwhelmed by too many choices.
As always, the impulse shopper is the one that spends too much money.
Don't expect assistance from staff personnel. In fact, often those people working the cash registers in a store closing didn't work there before.
Frequently, a company will lay off long-term employees early in a liquidation process, and then hire a cheaper team of employees just to make it through the closing of the doors.
That means those folks have NO idea where the items you want are, and honestly don't have a lot of motivation to help you out, either.
Don't cut up your gift cards. At least, not yet. Since JCPenney isn't closing all stores, obviously those gift cards will be good at other locations.
You also can use JCPenney gift cards online, since the company says they will be trying to improve and expand their online presence.
Get creative. As the JCPenney store closing sales progress, stores will sell fixtures, furniture, shelving, and basically anything that isn't nailed down.
Now might be the time to score some storage for your stockpile, or other household organizers!
What other advice do you have about shopping store closings or liquidation sales? Leave your tip in the comments section!
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