iradiophilly | Business - Philadelphia Franklin Mills Mall Gets a JC Penney Again

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Philadelphia Franklin Mills Mall Gets a JC Penney Again

by: iradiotom - Philadelphia, PA
started: 12/22/11 10:59 am | updated: 12/22/11 10:59 am

J.C. Penney will be returning to the Franklin Mills mall in Philadelphia as a full-line store.

According to the Philadelphia Business Journal, the retailer had planned to close 19 outlet stores, including its Franklin Mills location.

In March, it will open a 100,000-square-foot store in the same space, a mall spokesperson said. It will have an updated design and an assortment of professional-and-lifestyle attire for men, women and children.

J.C. Penney Co. Inc. (NYSE:JCP), which is based in Plano, Tex., has 1,100 J.C. Penney stores and annual sales of $17.8 billion.

Franklin Mills, which is owned by Indianapolis-based Simon Property Group, has 200 outlets and what it calls “value retail” stores, including Saks Fifth Avenue OFF 5TH, Last Call by Neiman Marcus, Polo Ralph Lauren Factory Store, Nike Factory Store, Kenneth Cole Outlet Store, Guess Factory Store and others.

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