Thanks to higher sales at stores marked for closure, J.C. Penney Co. Inc. has postponed plans to shutter 138 shops, including four in Colorado.
Company spokeswoman Daphne Avila told CNBC that the locations J.C. Penney (NYSE: JCP) announced in March would be closed have since seen “better-than-expected sales and traffic.”
"This is not an uncommon response when you announce a store closure,” Avila added. “Local shoppers will come out for a variety of reasons — some out of nostalgia and some who are just looking for a great deal."
As a result, J.C. Penney will start liquidating those stores on May 22 instead of April 17, as first planned. And stores will shutter by July 31, instead of mid-June.