A record 202.9 million consumers made purchases during the five-day November/December holiday weekend from Thanksgiving, November 27, to Cyber Monday, December 1, the National Retail Federation and Proper Insights & Analytics said in a statement.
The number of shoppers during the 2024 Thanksgiving weekend exceeded last year’s 197 million shoppers and broke the previous record of 2004 million shoppers set in 2023.
-
Thanksgiving weekend 2023, 200.4 shoppers
-
Thanksgiving weekend 2024, 197 million shoppers
-
Thanksgiving weekend 2025, 202.9 million shoppers
“This year’s record participation reflects a high level of engagement among consumers who focus on value, respond to compelling promotions and seize opportunities to make the winter holidays special and meaningful,” Matthew Shay, CEO of the National Retail Federation, said in a statement on Dec. 2.
However, a record start to the holiday shopping season isn’t enough to stop major retailers from closing stores that no longer make sense.
Macy’s has determined to close 66 underperforming stores in 2025 and approximately 150 stores by the end of 2026.
Another large department store chain has already closed several stores in 2025 and will close at least one store in 2026.
JCPenney, the longtime department store anchor in regional malls, revealed it will close another store at Stoneridge Mall in Pleasanton, California, after closing eight stores nationwide earlier this year.
JCPenney said the Pleasanton store’s last business day will be February 22, 2026, San Francisco’s KRON-TV reported. The company has not said whether it will offer employees positions at other JCPenney stores in the San Francisco Bay Area.
The retailer has stores in six other Bay Area cities, including Antioch, Concord, Fairfield, Hayward, San Jose and Santa Rosa, California.
In a statement to KRON, the department store chain said it was “unable to continue the current lease terms for this store location and is unable to find another suitable location on the market.”
JCPenney has closed another Bay Area store in May 2025, the Tanforan store in San Bruno, California.
The company has closed seven other stores this year, including The Shops in Northfield, Denver; Pine Ridge Mall in Pocatello, Idaho; West Ridge Mall in Topeka, Kansas; Annapolis Mall in Annapolis, Maryland; Asheville Mall in Asheville, North Carolina; Fox Run Mall in Newington, New Hampshire; and Charles Town Center in Charlestown, West Virginia.
-
Stoneridge Mall in Pleasanton, California
-
Tanforan Stores in San Bruno, CA
-
Stores in Northfield, Denver
-
Pine Ridge Mall in Pocatello, Idaho
-
West Ridge Mall in Topeka, Kansas.
-
Annapolis Mall in Annapolis, MD
-
Asheville Mall, Asheville, NC
-
Fox Run Mall, Newington, New Hampshire
-
Charles Town Center in Charlestown, West Virginia
The JCPenney closing follows owner Copper Property CTL Pass Through Trust’s sale of 119 properties to Boston-based private equity firm Onyx Partners Ltd. on July 23, 2025, in an all-cash transaction worth $947 million. The sale is scheduled to close on September 8, 2025.
More closures:
Copper Property was formed to acquire 160 store locations and six warehouse distribution centers from JCPenney as part of the company’s 2020 Chapter 11 filing. The company closed about 200 stores through bankruptcy.
Founded in 1902 as The Golden Rule in Kemerer, Wyoming, JCPenney currently operates more than 650 stores in the United States and Puerto Rico and employs more than 50,000 people.
RELATED: 50-year-old Home Depot rival hardware chain closes stores
This article was originally published by TheStreet on December 6, 2025, and first appeared in the Retail section. Click here to add TheStreet as your preferred source.