JC Penney plans store closures and employee buyouts this year. The department store giant will close about 13-percent of their retail stores nation wide.

The company recently reported its first quarterly profit since 2010.  CEO Marvin Ellison says they're up against what he calls "the growing threat of online retailers"

Thousands of employees could face layoffs and another 6-thousand will be offered early retirement packages.

The list of stores slated for closure will be released in about 2 weeks. There's no word yet on whether any Washington State stores will be impacted by the closures.

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