J.C. Penney to close eight stores in 2018

J.C. Penney which has already shuttered dozens of locations in the wake of sluggish sales, will close eight more stores this year, eliminating the jobs of roughly 480 employees.

The retailer says that as it takes steps to restore revenue and profits, it is constantly looking at the performance of its stores. "During this review, the decision was made to close eight stores across the country,'' the company said in a statement.

More: J.C. Penney to close Wisconsin facility, cut 670 jobs

More: J.C. Penney delivers encouraging holiday sales performance

More: J.C. Penney stock is on a five-day losing streak

Most of the stores, which stretch from Paramus, NJ to Calexico, Ca. will be out of business by mid-May.

The move comes on the heels of the retailer saying this week that it would be closing a distribution center in Wauwatosa, Wisconsin this summer, leading to the loss of 670 jobs. 

J.C. Penney closed 138 stores last year, as it tried to winnow its footprint, bolster its e-commerce experience, and expand its services to attract customers at a time when shoppers are increasingly turning to Amazon and other online sites.  

Despite those headwinds, the retailer reported strong results in the all-important holiday shopping season, with sales at stores open at least a year up 3.4%. The company has ramped up the time it takes to get contemporary fashion offerings on its racks, partnered with popular beauty retailer Sephora, and increased its sales of appliances.

It will give its next quarterly earnings update on March 2.