Neiman Marcus and JCPenney Are Among the Texas Retailers Forced to Close Stores as Winter Weather Deals $50B Economic Blow to Southern US
Neiman Marcus and JCPenney are adding their names to the growing list of Texas-based firms feeling the impact of treacherous winter weather that has lead to nearly two dozen deaths and dealt a heavy economic blow to the area.
The high-end retailer and mid-market department store are both based in hard-hit Texas — with JCP’s headquarters located in Plano and Neiman’s in Dallas. (During its Chapter 11 process last year, JCP indicated it was vacating its Plano HQ — although the retailer has not confirmed a new location for its campus and still lists its address as 6501 Legacy Drive in Plano, Texas.)
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A spokesperson for JCPenney told FN that the number of store closures and stores with reduced hours is “changing by the day and hour,” but as of press time, it had 26 stores closed across multiple states that are experiencing winter weather.
Meanwhile, a Neiman Marcus spokesperson said that extreme weather conditions and power outages in Texas has led the company to temporarily close all seven of its Neiman Marcus stores, two Last Call stores, and three distribution centers in the state.
“We are prioritizing the safety of our associates and are evaluating the situation day by day,” the spokesperson added, noting that the retailer continues “to serve our customers digitally. Associates are accessible via mobile, text, the Neiman Marcus app, and our website.”
As subfreezing temperatures and failing electric power hit cities across Oregon, Texas and West Virginia this week creating what AccuWeather described as the “most unrelenting winter weather pattern in decades,” scores of Americans have faced life-threatening conditions. As it stands, local authorities estimate the winter storms have killed at least 21 people across the Southern United States and left millions without power.
“We have been experiencing one of the stormiest patterns seen in decades,” said AccuWeather founder and CEO Dr. Joel N. Myers. “The damage has been exacerbated by the record cold temperatures that have pushed all the way to the Gulf Coast this week.”
The economic tally of the storms — including losses and damages — which left nearly three-quarters of the U.S. with some amount of snow cover, is estimated at between $45 and $50 billion, per AccuWeather’s tally.
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