logo
JCPenney closing stores in Asheville, North Carolina: Here's what we know

JCPenney closing stores in Asheville, North Carolina: Here's what we know

Yahoo10-02-2025

Asheville's only JCPenney location at the Asheville Mall is set to close this spring.
A JCPenney representative told the Citizen Times via email that the Asheville location at 3 S. Tunnel Road plans to close its doors by May 25 of this year.
"The decision to close a store is never an easy one," the representative wrote. "We are grateful to our dedicated associates and the loyal customers who have shopped at our Asheville location."
You can find other JCPenney locations at JCPenney.com. Here's what else we know about closures.
More: Big Lots to sell many store leases: These North Carolina sites are on the list, 1 in WNC
Locations at 1105 Walnut St., Cary, and 380 N Cooper Drive, Henderson, were recently closed. Also set to close in 2025 are the following JCPenney locations:
4217 Six Forks Road Suite 100, Raleigh, NC 27609
1305 E Broad Avenue Ste 13, Rockingham, NC 28379
2910 N Elm St., Lumberton, NC 28358
3100 Dr. M.L.K. Jr Blvd. Ste 29, New Bern, NC 28562
JCPenney isn't the only chain store in the Asheville area currently on the chopping block. Several more stores and restaurants in the area that have closed or plan to close soon include:
Big Lots - 11 Mckenna Road, Arden
Party City - 80 S Tunnel Rd #15, Asheville
Bojangles - 99 Merrimon Ave., Asheville
Other chain locations including Krispy Kreme and several Ingles stores remain temporarily closed following damages from Tropical Storm Helene.
More: Big Lots to sell many store leases: These North Carolina sites are on the list, 1 in WNC
Iris Seaton is the trending news reporter for the Asheville Citizen Times, part of the USA TODAY Network. Reach her at iseaton@citizentimes.com.
This article originally appeared on Asheville Citizen Times: JCPenney closing stores in Asheville, other North Carolina sites

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

American Coastal Insurance Corporation (ACIC): A Bull Case Theory
American Coastal Insurance Corporation (ACIC): A Bull Case Theory

Yahoo

time5 hours ago

  • Yahoo

American Coastal Insurance Corporation (ACIC): A Bull Case Theory

We came across a bullish thesis on American Coastal Insurance Corporation (ACIC) on Miroslav Štěpánek's Substack. In this article, we will summarize the bulls' thesis on ACIC. American Coastal Insurance Corporation (ACIC)'s share was trading at $11.75 as of 4th June. ACIC's trailing P/E was 7.99 according to Yahoo Finance. An insurance agent at their desk consulting a customer about property & casualty insurance. American Coastal is a Florida-based property insurer that stands out in a typically commoditized industry due to its strategic niche, disciplined underwriting, and exposure to a high-premium market shaped by hurricane risk. Despite operating in a state where insurers have frequently gone bankrupt due to underpricing and fraud, American Coastal has maintained resilience through selective client screening and rigorous risk assessment, especially in its focus on residential-commercial properties with gardens. The company's 2022 combined ratio of 86.5%—even after Hurricane Ian—demonstrated its superior underwriting discipline. Trading at a 2024 P/E of 6.9 and boasting a high-teens free cash flow yield, the stock appears significantly undervalued. The company is now well-capitalized post-separation from UPC, with founder Daniel Peed still on the board despite stepping down as CEO. American Coastal is actively returning capital to shareholders via dividends and opportunistic buybacks and has initiated a $0.50/share dividend, reflecting confidence in its financial health. While core insurance operations are mature, modest organic growth is expected from Florida's demographic shifts, and a new MGU business could generate $20 million in annual profits over time. The hurricane risk remains real, but even recent storms like Helene and Milton only caused a modest financial impact, and major hurricanes may sustain high pricing. Investor sentiment remains cautious due to lingering concerns from its UPC past and weather-driven volatility, but those willing to look past episodic turbulence may find compelling upside. A conservative valuation model suggests potential returns of 2–3x over the next few years, making American Coastal a high-yield, asymmetric value play in a misunderstood niche. Previously, we covered a on RLI Corp. (RLI) by Serhio MaxDividends on Substack, operating within the same industry as ACIC, praising its 50-year dividend growth streak, robust underwriting, and strong balance sheet despite a dip in Q1 earnings. Miroslav Štěpánek's thesis on American Coastal Insurance Corporation (ACIC) offers a more contrarian angle, spotlighting a Florida-focused insurer with disciplined underwriting and a high cash flow yield. While RLI offers stability and long-term compounding, ACIC presents an asymmetric value bet with 2–3x upside potential for those willing to brave weather-driven volatility. American Coastal Insurance Corporation (ACIC) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held ACIC at the end of the first quarter which was 18 in the previous quarter. While we acknowledge the risk and potential of ACIC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey.

Southern Company's Georgia Power Prepares for a Storm-Heavy 2025
Southern Company's Georgia Power Prepares for a Storm-Heavy 2025

Yahoo

time6 hours ago

  • Yahoo

Southern Company's Georgia Power Prepares for a Storm-Heavy 2025

The Southern Company's SO subsidiary, Georgia Power, is doubling down on efforts to maintain safe and reliable electricity service ahead of the 2025 Atlantic Hurricane Season amid the National Oceanic and Atmospheric Administration's (NOAA) forecast of above-average storm activity. The utility company has significantly enhanced its storm response capabilities, including investments in smart grid technologies and infrastructure upgrades designed to limit the impact of outages and speed up recovery. Self-healing technology now embedded across the state's power grid allows crews to reroute power and segment a power line, which isolates issues, minimizing the number of affected customers and restoring power faster. This approach proved invaluable during 2024's Hurricane Helene, the most destructive in Georgia Power's history, where it played a key role in accelerating power restoration. Georgia Power is urging all customers to take proactive safety measures this season. From avoiding downed power lines to using generators properly, the company emphasizes that preparation can save lives. To stay informed during emergencies, customers are encouraged to use Georgia Power's digital tools: Outage Alerts: Free text notifications with personalized updates Outage & Storm Center: A 24/7 resource for reporting and tracking outages Outage Map: Real-time statewide view of current outages Mobile App & Social Media: On-the-go access to safety tips, updates and support The utility also reminds drivers to follow Georgia's Move Over Law, giving space to utility crews working roadside during or after storms. In the aftermath of Hurricane Helene, which left over a million Georgians without power, Georgia Power was honored with the Edison Electric Institute's Emergency Recovery Award. The recognition highlights the extraordinary work of thousands of line workers and support staff who helped rebuild critical parts of the grid, replacing over 11,000 power poles, repairing 1,000 miles of wire and removing more than 3,000 damaged trees. The company informs that as storm threats loom in 2025, Georgia Power stands ready to respond with resilience and innovation. The Southern Company deals with the generation, transmission and distribution of electricity and serves approximately nine million customers through its seven electric and natural gas distribution units. Currently, SO has a Zacks Rank #3 (Hold). Investors interested in the utility sector might look at some better-ranked stocks like EDP, S.A. EDPFY, Engie SA ENGIY and CenterPoint Energy, Inc. CNP. While EDP and Engie currently sport a Zacks Rank #1 (Strong Buy) each, CenterPoint Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. EDP ranks among Europe's major electricity operators, as well as being one of Portugal's largest business groups. EngieSA engages in the power, natural gas and energy services businesses. It operates through Renewables, Networks, Energy Solutions, FlexGen, Retail, Nuclear and Others segments. The Zacks Consensus Estimate for ENGIY's 2025 earnings indicates 19.55% year-over-year growth. Houston, TX-based CenterPoint Energy is a domestic energy delivery company that provides electric transmission and distribution, power generation, and natural gas distribution operations. The Zacks Consensus Estimate for CNP's 2025 earnings indicates 8.02% year-over-year growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southern Company (The) (SO) : Free Stock Analysis Report CenterPoint Energy, Inc. (CNP) : Free Stock Analysis Report Energias de Portugal (EDPFY) : Free Stock Analysis Report ENGIE - Sponsored ADR (ENGIY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

JCPenney to close Haslet location and lay off 300 Texas employees, WARN notice says
JCPenney to close Haslet location and lay off 300 Texas employees, WARN notice says

Yahoo

time6 hours ago

  • Yahoo

JCPenney to close Haslet location and lay off 300 Texas employees, WARN notice says

Five years after filing Chapter 11 bankruptcy and amid over 200 store closures, JCPenney will soon shutter a logistics center and lay off nearly 300 Texas employees. The retail giant released the news in a Worker Adjustment and Retraining Notification (WARN) letter submitted to the Texas Workforce Commission on June 3. The layoffs will affect 296 employees in the North Texas town of Haslet. People are also reading: Houston-based Chevron to lay off 200 Texas employees mid-July, WARN notice says The layoffs will occur in two increments, as stated in the WARN letter. Some employees will lose their jobs over the first half of August, while the rest will be laid off in the first half of November. The Haslet warehouse will close around Nov. 1. "JCPenney is always seeking ways to adapt and enhance our operations with the goal of providing a better experience for our customers," JCPenney said in a statement to the Dallas Morning News. "After a thorough review of our organization, we've made the difficult decision to close our JCPenney Alliance Regional Logistics Center." At the beginning of the year, JCPenney revealed it had partnered with Forever 21 to create a new entity called Catalyst Brands. Brooks Brothers, Aéropostale, Lucky Brand, Nautica and Eddie Bauer were also included in the merger. In January, Catalyst Brands announced the opening of 1,800 store locations and the hiring of 60,000 employees. However, a JCPenney spokesperson had told USA TODAY that the store closures were not related to the merger. In April, a Catalyst Brands spokesperson told USA TODAY that the company was "optimizing" its structure and cutting around 9% of its corporate roles. The closures may be due to "expiring lease agreements, market changes or other factors," a JCPenney spokesperson added. Two months before Catalyst Brands made corporate cuts, JCPenney laid off around 5% of its own corporate staff. — CHRON and USA TODAY contributed to this report. This article originally appeared on Austin American-Statesman: JCPenney closure to lay off 300 North Texas employees: WARN notice

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store