Penney said the closures will save about $65 million annually, in an effort to close the gap left by a terrible third quarter in 2012 when sales dropped by a third.
"As we continue to progress toward long-term profitable growth, it is necessary to re-examine the financial performance of our store portfolio and adjust our national footprint accordingly," said Chief Executive Mike Ullman III.
A spokeswoman said the affected stores will be complete by May, and employees who are not eligible to remain in the company will receive separation benefits.
Below, the full list of stores to be closed:
Selma Mall - Selma, Ala.
Arrow Plaza - Rancho Cucamonga, Calif.
Chapel Hills Mall - Colorado Springs, Colo.
Meriden Square - Meriden, Conn.
Lake Square Mall - Leesburg, Fla.
Gulf View Square - Port Richey, Fla.
Muscatine Mall - Muscatine, Iowa
Stratford Square Mall - Bloomingdale, Ill.
Hickory Point Mall - Forsyth, Ill.
Five Points Mall - Marion, Ind.
Marketplace Shopping Center - Warsaw, Ind.
The Centre at Salisbury - Salisbury, Md.
Westwood Plaza - Marquette, Mo.
Northland Mall - Worthington, Minn.
Singing River Mall - Gautier, Miss.
Natchez Mall - Natchez, Miss.
Butte Plaza Shopping Center - Butte, Mont.
Cut Bank - Mont.
Vernon Park Mall - Kinston, N.C.
Burlington Center - Burlington, N.J.
Phillipsburg Mall - Phillipsburg, N.J.
Wayne Towne Plaza, Wooster, Ohio
Exton Square Mall - Wooster, Pa.
Laurel Mall - Hazleton, Pa.
Washington Mall - Washington, Pa.
Northgate Mall - Chattanooga, Tenn.
Bristol Mall - Bristol, Va.
Military Circle Mall - Norfolk, Va.
Forest Mall - Fond Du Lac, Wisc.
Janesville Mall - Janesville, Wisc.
Lincoln Plaza Center - Rhinelander, Wisc.
Cedar Mall - Rice Lake, Wisc.
Wausau Mall - Wausau, Wisc.