CNBC: J.C. Penney postponing store closures and liquidation sales

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

J.C. Penney (JCP -1.8%) is postponing the liquidation sales and closure dates for the 138 stores it planned to shutter this year after seeing better traffic since first announcing the moves, a company spokesperson tells CNBC.

The liquidation will now begin May 22 instead of April 17 as originally scheduled, and the new closure date of July 31 is about six weeks later than originally planned.

JCP shares, down as much as 5% intraday, spiked into the close on the news.